Airline stocks declined collectively. As of press time, CHINA SOUTH AIR (01055) fell 4.53% to HK$3.79; CHINA EAST AIR (00670) dropped 3.5% to HK$3.03; AIR CHINA (00753) declined 2.68% to HK$5.45; MEILAN AIRPORT (00357) fell 1.42% to HK$10.43.

On the news front, OPEC+ agreed to increase crude oil production by 137,000 barrels per day in November, with the production increase falling short of expectations, driving oil prices higher. JPMorgan previously released a research report stating that the aviation sector has underperformed the broader market year-to-date due to cost pressures, intensified competition, and weak pricing power that have pressured profits. The sustainability of the recent stock price rebound momentum in the sector remains uncertain as the industry is about to enter the off-season. The firm noted that the impact of anti-involution and related regulatory measures is limited, as these initiatives currently still find it difficult to substantially improve pricing levels, maintaining its forecast of flat prices for 2025-2027.