Reported 12 months ago
On June 27, 2024, foreign funds turned from selling to buying and increased positions in shipping stocks, boosting the stock prices of airline giants EVA Air (2618) and China Airlines (2610) to achieve new highs in 2024. The strong performance was also seen in container shipping stocks such as Evergreen (2603), Yang Ming (2609), and Wan Hai (2615). Market experts believe that with funds shifting away from AI tech stocks due to stagnation in the US market, the airline industry, supported by both passenger and cargo demand, is expected to outperform the maritime industry. Observing the market trend, airline stocks opened low but ended high, with EVA Air closing up 2.77% at NT$38.9 and China Airlines up 2.54% at NT$24.25, both reaching their highest levels since 2023. Evergreen declared a cash dividend of NT$9.96505 per share and saw positive buying momentum, closing at NT$194.5. Foreign net buying also contributed to the positive performance of Evergreen, Yang Ming, and Wan Hai, indicating a potential favorable outlook for the industry.
Source: YAHOO