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Home Business News Cathay Rises Most Since 2008 as Reopening Chance Offsets Virus - Bloomberg

Cathay Rises Most Since 2008 as Reopening Chance Offsets Virus – Bloomberg

Cathay Pacific Airways Ltd. shares climbed the most in nearly 12 years after a Chinese state-run newspaper tweeted that Hong Kong’s airport may restart transfer flights to mainland China, a move that could inject the beleaguered carrier with some much-needed passenger traffic.
The tweet from the Global Times added fuel to Cathay’s Wednesday morning rally, pushing it to a 12% gain, its biggest since October 2008. Shares closed at HK$5.88 in Hong Kong. The newspaper cited a source it didn’t ident…

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