Kawasaki Kisen shares fell ¥340 from the previous day to ¥3,100, hitting their lowest level in 2.5 months. Falling freight rates are being viewed as a risk against the backdrop of easing tensions in the Middle East.
Kawasaki Kisen shares had fallen ¥340 from the previous day to ¥3,100 as of 9:45 a.m., recording their lowest level in approximately 2.5 months. The information was reported as part of Nikkei coverage of the Prime Market.
While easing tensions in the Middle East have raised expectations, views are spreading that freight rates in the shipping industry will continue to fall. Against this backdrop, reports indicated that selling pressure was weighing on Kawasaki Kisen shares.
As political developments in the United States and China, reports said that Democrats were expected to control both houses of Congress in the US midterm elections, for which voting took place on the 3rd. This and changes in the situation in the Middle East were cited as factors behind the market’s reaction.