Better outlook buoys shipping shares
By ZHONG NAN |
China Daily |
Updated: 2021-04-08 00:00
Boosted by China's growing trade volume in the first quarter of this year and the world's surging demand for shipping services, the stock index of China's shipping-related businesses rose 7 percent on Wednesday, while the benchmark Shanghai Composite Index dropped 0.1 percent to close at 3479.63 points.
Share prices of shipping companies COSCO Shipping Holdings Co Ltd and COSCO Shipping Specialized Carriers Co Ltd hit the daily ceiling of 10 percent to 16.15 yuan ($2.47) and 4.28 yuan, respectively, in the A-share market, according to market tracker Wind Info.
China Merchants Energy Shipping Co Ltd and COSCO Shipping Energy Transportation Co Ltd rose by 8.17 percent to 5.56 yuan and 8.86 percent to 7 yuan, respectively.
