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00316.HK cut in 10% of the previous misinformation that Maersk and Houthi reached an agreement to sail through the Red Sea.
Maersk shares plummeted after rumors that freight companies such as Maersk reached an agreement with Houthi militant groups to sail through the Red Sea. Although Maersk later denied the report, Maersk shares closed down 5.65 per cent. Hong Kong shipping stocks were also under pressure against the market this (9) morning. Blue-chip Orient overseas (00316.HK) continued its decline last day. After opening 3.8% lower this morning, the initial decline widened to 104.8 yuan, a further drop of 10.2%, with 619600 shares traded, involving a capital of 65.8469 million yuan. COSCO Marine Holdings (01919.HK) is now trading at 7.84 yuan, down 4.9%. Pacific Shipping (02343.HK) is now trading at 2.40 yuan, down 5.1%. Haifeng International (01308.HK) is now trading at 13.52 yuan, down 4.7%.
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