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Port-related counters are hit by US-China trade tensions

There are some fears that rising US protectionism may spread to banking, shipbuilding manufacturing sectors

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Published Thu, Mar 29, 2018 · 09:50 PM

Singapore

TRADE-DEPENDENT counters, especially those in port operations and bulk cargo transportation, hit multi-year lows in the region on Thursday, amid continued trade tensions between the US and China.

In Singapore, container port business Hutchison Port Holdings Trust fell to a record low of US$0.295 on Thursday. In Hong Kong, logistics conglomerate China Merchants Port Holdings and terminals operator Cosco Shipping Ports both fell to eight-year lows of HK$17.30 and HK$6.60, respectively.

Trade warSingapore Stocks

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