Reported 8 months ago
Amid the fall in major U.S. stock indices leading to a lower opening for Taiwan stocks, the container shipping giants Wan Hai, Yang Ming, and Evergreen Maritime Corporation continued to rise against the trend, with Wan Hai surging 7% at opening, Yang Ming up 4%, and Evergreen Maritime Corporation increasing by over 2%. However, Yang Ming and Evergreen Maritime Corporation briefly turned negative during trading, leaving traders disappointed. The robust demand in the container market and ongoing issues like the Suez Canal crisis have caused shortages in shipping containers, leading to a global port congestion crisis. This has resulted in rising shipping rates, benefiting the stocks of the three container giants today.
Source: YAHOO