OOIL leads slide in Hong Kong shipping stocks as sea freight index slumps

Orient Overseas (International)

01/09/2022 04:57

** Shares of Orient Overseas (International) Ltd (OOIL)
 0316.HK  lead slide among Hong Kong-listed shipping stocks,
plunging as much as 10.1% to HK$155.60, the lowest since Dec. 23
    ** Stock is the third-biggest pct decliner in Hang Seng
Index  .HSI  and Hang Seng Commerce & Industry Index  .HSNC  
    ** The Baltic Exchange's main sea freight index  .BADI ,
tracking rates for ships ferrying dry bulk commodities, fell on
Wednesday and registered its biggest monthly decline in more
than two years on waning demand across vessels, led by capesizes
 urn:newsml:reuters.com:*:nL4N3072NS
    ** The index shed nearly 50% in August, a third straight
monthly decline and its worst performance since January 2020
    ** Stock of SITC International  1308.HK  drops 5.7% to
HK$18.86, the lowest since February 2021; Hong Kong shares of
COSCO Shipping  1919.HK  falls 4.4%
    ** The Hang Seng Commerce & Industry Index  .HSNC  climbs
0.2%, while the Hang Seng Composite Index  .HSCI  slips 0.3% and
the Hang Seng Index  .HSI  eases 0.2%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))