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China Ocean drops 5% Morgan Stanley sees short term outlook on stock price

Source: Internet
Author: User
Keywords Stock price decline
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China's Cosco shares, which followed the BDI index this morning, fell by 4.69% to HK $10.56 and traded 74.2 million shares in a half-day. Morgan Stanley reported that it is likely to fall in the next 30th. Mean with dry bulk forward freight agreement (FFA) sharp drop, the material Baltic index will be affected from the recent high decline; given that the correlation between COSCO and the Baltic Sea Index is 94%, the BDI index will be a major driver of the short-term performance of the stock.

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