Chinese E-Commerce Giants Poised for Growth Following New Government Policy Support
Shares in China's leading e-commerce businesses are set for a lift following the announcement of new government policy measures aimed at boosting the industry's exporting capabilities and overseas warehousing infrastructure.
Direct impact of changes | Orient Overseas International led shipping stocks with an increase of more than 5%. Red Sea routes are still blocked, and several airlines have once again announced price increases
The Zhitong Finance App learned that shipping stocks rose collectively in early trading. As of press release, Orient Overseas International (00316) rose 5.94% to HK$139.4; Pacific Shipping (02343) rose 4.38% to HK$2.86; COSCO Marine Holdings (01919) rose 4.3% to HK$13.1; COSCO Marine (01138) rose 2.8% to HK$11. According to the news, the Houthis have announced earlier that they will continue to expand the scope of the attack, and all ships bound for Israeli ports will be targeted. Shen Wan Hongyuan said that the market had previously underestimated the continued disturbance of the Red Sea by the Husai armed forces
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