Reported 11 months ago
Container shipping giants experienced a high opening followed by a sharp decline, with Yang Ming (2609) selling 327,500 huge shares, ranking first in trading volume and dropping to the top spot among listed stocks. Other companies like Wan Hai (2615) and Evergreen (2603) followed suit. Senior securities analyst Xu Bojie pointed out two main reasons for this: the slight increase in Shanghai Containerized Freight Index last Friday did not meet market expectations, and a 5.4% drop in China-Europe shipping index led to the decline in shipping stock prices. Xu also mentioned the impact of the Suez Canal crisis and the severe traffic congestion in Singapore affecting international shipping routes.
Source: YAHOO