Jan 5, 2022

Airline shares boosted by Omicron optimism

Shares in Wizz Air gained 12 per cent, IAG 11 per cent and easyJet 9 per cent by the close of play in London on Tuesday as investors bet that Omicron would have a less severe impact on the industry than feared. Tencent's move to sell more than $3bn of its shares in Sea, the New York-listed Singaporean gaming and ecommerce group, wiped more than 11 per cent off Sea's shares on Tuesday. Tencent's equity stake will fall from 21.3 per cent to 18.7 per cent after the sale, Primrose Riordan reports from Hong Kong. Shares in the Japanese group climbed 4.5 per cent after announcing the plans to open the subsidiary and unveiling an electric SUV prototype. Shares in bad debt manager China Huarong Asset Management fell more than 40 per cent after resuming trading following a nine month suspension, William Langley reports from Hong Kong.

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