Jet fuel is the most critical issue for Cathay. The outlook depends on oil prices.
Passenger demand is robust and the cargo business should show healthy growth.
Bank of America only has a limited retail network in China. Given the size of its investment in China Construction Bank, it is more important than the retail branches.
The gains have got more to do with the interest-rate cycle and expectations that it's very near to the peak. Property will be the obvious beneficiary.