Chinese container merger slams share prices down

There has been no smooth sailing for the Chinese carrier stocks during the past two trading days after months of suspension from stock trade in China have ended.

On Friday, the investors on the stock exchange in continental China were once again granted the opportunity to trade shares in China Cosco Holdings, China Shipping Container Lines and China Shipping Development, after the Chinese authorities presented a plan on December 11th for the consolidation and streamlining of the three carriers as well as Cosco Pacific, which is only listed in Hong Kong. The shares had otherwise been suspended since the beginning of August.

The plan from the authorities is part of a merger of Cosco Group and China Shipping Group, and is meant to streamline the four companies under the two state-owned parent companies.

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