The Zhitong Finance App learned that shipping stocks generally declined in early trading. As of press release, COSCO Maritime Holdings (01919) fell 3.36% to HK$11.52; Orient Overseas International (00316) fell 1.03% to HK$115.1; and COSCO Haifa (02866) fell 0.98% to HK$1.01.
According to various media reports, a Hamas source revealed that Hamas has initially approved the proposal for a cease-fire in the Gaza Strip and the exchange of detained persons, and agreed to continue negotiations with Israel on matters such as exchanging detainees during the 16 days of implementing the first phase of the cease-fire in the Gaza Strip. Sources said that Hamas has given up requiring Israel to commit to a permanent cease-fire before signing a cease-fire agreement.
Yamato released a research report saying that Hamas's acceptance of the cease-fire agreement will improve the situation in the Middle East in the short term, and the market expects that if it comes true, shipping prices may return to the level before the Red Sea route was blocked. Yamato indicated that since the stock price of shipping stocks has always been supported by a sharp rise in freight prices, although shipping prices may not drop immediately, the latest developments are expected to put a lot of pressure on the stock prices of shipping companies. Investors are expected to take the lead in leaving the market profitably, and COSCO Marine Control, Dongfang Overseas, and Haifeng International are expected to be further pressured.