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2008-8-8 10:52:00 a.m. HKT, XFNA
STOCK ALERT - Dry bulk shippers lower in HK after Baltic Dry Index drops
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HONG KONG (XFN-ASIA) - Shares of dry bulk shippers were lower in early trade
after the Baltic Dry Index dropped steeply overnight.
At 10:44 am, China Cosco shares were down 0.98 hkd or 6.28 pct at 14.62,
Pacific Basin Shipping was down 0.32 hkd or 3.17 pct at 9.76 and Sinotrans
Shipping was down 0.01 hkd or 1.16 pct at 3.42.
The Baltic Dry Index, which measures the cost of shipping a range of industrial
commodities, tumbled 348 points or 4.4 pct to 7,521 on Thursday amid worries of
weaker shipping demand due to slowing global economic growth.
( 1 usd = 7.8 hkd)
george.ng@xfn.com
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