HK Stock Market Move | COSCO Shipping Energy Transportation (01138) falls nearly 8% again as cargo ships are attacked in the Gulf of Oman, and evacuation operations in the Strait of Hormuz are suspended.

COSCO Shipping Energy Transportation (01138) fell nearly 8% again, as of the time of writing, down 7.03% to HK$16.53, with a turnover of HK$192 million. On the news front, the International Maritime Organization announced on the 25th that a ship was attacked in the Gulf of Oman that day. The organization decided to suspend the evacuation of ships stranded in the Strait of Hormuz to further confirm whether the relevant security measures are still effective. It is worth noting that the Iranian Islamic Revolutionary Guard Navy issued a statement on social media on the 25th, saying that ships passing through the Strait of Hormuz must coordinate with the Revolutionary Guard Navy. Violators will be "dealt with". Shipowners and traders are cautious about the possibility of an agreement to reopen the Strait of Hormuz in a few days. Many have stated that, given the months of back and forth about whether it will be open, they will wait for more details to be disclosed in order to assess whether it is truly safe to navigate. Orient also believes that the strait will gradually return to normal levels rather than all at once.