TAIPEI (TVBS News) — In Wednesday's (Dec. 20) early trading session, shares of Yang Ming Marine Transport Corp. saw a significant surge in volume, with more than 70,000 shares traded, ranking within the top five in terms of transaction volume.
This comes as major container shipping companies, including Evergreen Marine Corp., Yang Ming, and Wan Hai Lines Ltd., have announced the suspension of their services through the Red Sea following attacks on commercial vessels by Yemeni militants.
The crisis in the Red Sea has forced global shipping lines to reroute, potentially easing the issue of excess capacity and boosting international freight rates. This development has attracted considerable attention to the stock performance of the "Big Three" container shipping firms.
Evergreen Marine's stock exhibited volatility after an initial rise in the morning, hitting a new post-ex-dividend high of NT$148 following its peak on June 30, an increase of NT$1, or 0.68%. However, selling pressure later emerged, and the stock price dipped to NT$144.5, with more than 25,000 shares traded.
On the same day, Yang Ming's stock price reached a morning peak of NT$50.3 but then corrected downwards, hitting a low of NT$48.2. The stock's trading volume surpassed 70,000 shares, making it one of the most actively traded stocks.
Wan Hai Lines also experienced a similar downward trend from an opening price of NT$52.8, declining to NT$51.1, with more than 9,000 shares changing hands.
The movements in the shipping sector are being closely monitored against the backdrop of the ongoing situation in the Red Sea, which is affecting shipping routes globally.
