China Eastern plane crash due to intentional nose-dive

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London, May 18 | Flight data indicates a China Eastern Airlines plane that crashed in March was intentionally put into a nose-dive, according to US media reports.

Investigators have so far not found any mechanical or technical faults with the jet, as per the reports, citing a preliminary assessment by US officials, the BBC said.

The Boeing 737-800 was flying between the southern Chinese cities of Kunming and Guangzhou when it crashed.

All 132 passengers and crew on board the plane died in the crash.

“The plane did what it was told to do by someone in the cockpit,” according to the Wall Street Journal, which first reported the story, citing a person familiar with US officials’ preliminary assessment of the cause of the crash.

Data from one of the plane’s “black box” flight recorders, which was recovered from the crash site, suggested that inputs to the controls pushed the plane into a near-vertical dive, the report said.

ABC News, citing US officials, also reported that the crash was believed to have been caused by an intentional act.

China Eastern Airlines previously said the three pilots on board were qualified and in good health.

The airline separately told the Wall Street Journal that there was no indication that any of the pilots was in financial trouble.

Source: IANS

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Weekly Fundamental Market Outlook

Weekly Fundamental Market Outlook

Indian share market posted its first weekly gain in Jun by rising 2.7%.

This week, the Indian Stock Market rebounded strongly and ended with first weekly gain of 2.7% in June as a drop in commodity prices offered some relief from broadening inflationary pressures. Copper prices, which are often seen as a bellwether for economic output due to their wide range of industrial and construction uses, are heading for their worst week in a year, while oil prices have dropped over concerns of slumping demand.

While the US recessionary fears are still at the forefront, but the slide in commodity prices has lifted the mood of stock market.Cheaper oil is usually beneficial for oil-importing countries such as India.

Domestically, on sectorial basis, Auto and FMCG are the top gainers, while Metal index is the top losers. On stock basis, Hero MotoCorp, Eicher Motors, Hindustan Unilever, Maruti Suzuki and M&M were the top gainers and Tata steel, UPL, Reliance Industries, hindalco Inds and Coal India were the top losers.

In the next week, investors will keep a close eye on crude oil price movement, commodity prices, US economic activity and the geopolitical development.

 

Post Disclaimer by BhaskarLive.in

The information contained in this post is source form the news agency or PR agency. We do not take any responsibility of accuracy of information. We have not made any modification or changes in original source content. This information only for general information purposes only. The information is provided by BhaskarLive.in and while we Endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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