Shipping stocks slide after US port strike ends [Yahoo! Finance]
MITSUI O.S.K. LINES U/ADR (MSLOY)
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Source: Yahoo! Finance
operators agreed a deal to end a strike on the East and Gulf coast docks far sooner than expected. Evergreen Marine, Wan Hai Lines and Yang Ming Marine in Taiwan fell between 8.8% and 10% in their heaviest drops for several months. Japanese shippers Nippon Yusen, Kawasaki Kisen and Mitsui OSK Lines logged drops between 7% and 9% and were the largest decliners on the Topix index. "Investors who hoped for a short-term rebound in freight charges, which are in a downward trend, are selling as the strike ended," said Yang Ji-hwan, an analyst at Daishin Securities. (Reporting by Jihoon Lee in Seoul and Tom Westbrook in Sydney; Editing by Muralikumar Anantharaman) Recommended Stories
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