Chinese airline stock lift off

• China Southern Airlines (ZNH +11.5%) and China Eastern Airlines (CEA +9.9%) make strong moves higher after markets in China put in gains earlier. Most global airline stocks are higher on the day.
• The Chinese airline ADRs have been oversold over the last few weeks, according to some analysis.The operating expense benefit of lower fuel costs has largely taken a back seat to concerns over demand.
• Both stocks are more than 50% off their 52-week highs to trade with a single-digit price earnings ratio.