oriented companies fell on concern over higher production and operating costs after the revaluation as many pay their bills and employees in the yuan currency. Yue Yuen shares slipped 0.41 percent to HK$24.15 while Johnson Electric fell 2.01 percent to HK$7.30. China's three major airlines, including China Southern and China Eastern, soared on expectations they would face lower financing costs as they have a large chunk of their borrowings in foreign currencies. China Southern jumped 4.21 percent to HK$2.475, while China Eastern surged 6.25 percent to HK$1.36. China Mobile, the world's top mobile carrier by subscribers, rose 1.81 percent to HK$30.95, its highest level since August 2001. Chinese telecoms companies buy the bulk of their equipment overseas and may have more buying power after the revaluation. They are also seen as safer plays on the broader China economy.
