Shipping Stocks Torpedoed, as COSCO SHIP HOLD Sinks 9%+; Baltic Dry Index Dives to Low of Over 1 Wk

　　The Baltic Dry Index fell 2.7% to 1,966 on Friday, dropping for the third straight session and hitting a low of over one week.

　　COSCO SHIP HOLD (01919.HK) -1.000 (-7.429%) Short selling $31.90M; Ratio 8.392% opened 4.9% lower today, gapping below the support uptrend line in recent months. After bottoming at $12.06, it trades now at $12.16, sinking 9.66%, with 37.6168 million shares traded, involving $466 million in turnover.

　　OOIL (00316.HK) -7.100 (-5.530%) Short selling $37.03M; Ratio 26.369% opened 2.88% lower today and gapped below the 50MA, reaching a low of $116. It is now trading at $119.4, plunging 7.01% and approaching 100MA. Its volume is 901,500 shares and its turnover is $107 million.

　　PACIFIC BASIN (02343.HK) -0.120 (-4.762%) Short selling $1.90M; Ratio 10.930% opened flat today and printed lowest at $2.38. The stock currently trades at $2.38, diving 5.56%, with 4.4278 million shares traded, involving $10.6477 million.

　　SITC (01308.HK) -0.960 (-4.638%) Short selling $24.14M; Ratio 29.914% opened 5.7% lower and logged a day low at $19.18. It now trades at $19.96, submerging 3.57%, with 1.0886 million shares traded, involving $21.4662 million.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-05 16:25.)