China Southern Shares Gain After #Qatar Airways Buys 5% Stake - Bloomberg

China Southern Shares Gain After Qatar Airways Buys 5% Stake - Bloomberg:

China Southern Airlines Co. shares advanced after Qatar Airways purchased 5 percent of the mainland carrier and expressed interest in buying more in a bid to bolster its network in China.

The Gulf carrier now holds a total of 613.36 million shares of China Southern, including 430 million shares listed in Shanghai and 183 million in Hong Kong, according to a filing by the state-owned mainland airline Wednesday.

China Southern shares rose as much as 4 percent in Shanghai Thursday, the biggest intraday gain in a month. The Hong Kong-traded stock advanced as much as 1.9 percent.