China Airlines Ltd.
China Airlines Ltd. is principally engaged in the provision of airline services. The Company offers two major air transport services: passenger transport services, which accounted for 53% of its total sales during the year ended December 31, 2007, and cargo transport services, which accounted for 42% of its total sales. As of December 31, 2007, the Company had a total of 68 aircrafts, including 48 passenger jets and 20 freighters. The Company's passenger and cargo transport services include scheduled flights, charter flights and extra flights. The Company's passenger transport services cover Trans-Pacific, Europe, Southeast Asia, Taiwan, Hong Kong, Northeast Asia and Australia. The Company's cargo transport services cover Trans-Pacific, Europe, Southeast Asia, Northeast Asia and Australia. In 2007, the Company provided air transport services for approximately 10.3 million passengers.
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US stocks closed mixed overnight as the market wobbled after the US Federal Reserve decided to maintain its interest rates at record low to support the subdued recovery. The central bank's upbeat outlook of the economy has led to speculation about a faster interest rate rise.
Asian share markets mostly fell on Friday as investors' sentiment turned soured after the Wall Street losses overnight. Tokyo stocks fell sharply with the key Nikkei index hitting a fresh four-month intraday low under 9,500. Yen remained strong despite many key currencies were lower against US dollar.
Today most Asian markets traded lower in the morning despite a positive lead from Wall Street. Tokyo stocks fell on the rising Yen, while South Korean investors sold shares to lock in profits from recent rallies. Hong Kong's Heng Seng Index opened lower, but soon rebounded following the surge in mainland China's Shanghai Composite.
Asian share markets closed sharply lower on Monday with investor sentiment sharply dented by a worse-than-expected contraction in the U.S. economy. In Hong Kong, Hang Seng Index fell 3.86 per cent, dragged by the slump in U.S. stocks to new bear market lows Friday and concerns over HSBC. Japan's Nikkei-225 was down 3.8 per cent, while South Korean stocks closed 4.16 per cent lower. But Shanghai shares bucked the regional trend, closing up 0.51 per cent, as government stimulus plans boosted real estate and cement stocks.
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