Reported 8 months ago
Provided by KGI Futures Consultant Department, the article by Huang Yan-hong on June 16, 2024, at 4:10 pm mentions the preliminary agreement between Israel and Hamas on a UN ceasefire framework, although there are still disagreements on some details. However, the Houthis in Yemen launched a new round of attacks on ships in the Red Sea, raising doubts among investors about the strict enforcement of the ceasefire agreement. Despite geopolitical tensions, the overall trend towards reconciliation under the mediation of major powers has led to a retreat in shipping index futures. Technically, the article indicates a downward trend with the weekly line crossing below the monthly line, potentially accelerating the downtrend in the 10-day moving average and monthly line. With shipping disruptions expected due to longer routes caused by geopolitical tensions, major delays and congestion are projected at ports like Singapore, Ningbo, and Shanghai.
Source: YAHOO