Japanese shipping companies have seen a substantial increase in their shares as a result of the recent attacks on international shipping in the Red Sea by the Houthi Yemeni rebel group.
Nippon Yusen shares have risen by 7.75%, reaching 4,710 yen ($32.87). Similarly, Mitsui O.S.K. Lines has experienced a rise of 7.1% and reached Y4,838, while Kawasaki Kisen Kaisha recorded a 7.7% increase, with shares reaching Y6,514.
After the holiday season, equities trading in Tokyo resumed on Thursday, bringing attention to the impact of these attacks on the market.
In response to these ongoing attacks, the United States, Britain, and other key allies have issued a final warning to the Houthi Yemeni rebel group. They have threatened severe consequences if the attacks do not cease immediately.
Another significant development in this regard is the decision made by Danish shipping giant A.P. Moeller-Maersk. On Tuesday, they announced a temporary pause in all transit through the Red Sea and Gulf of Aden. This decision comes after their vessel, Maersk Hangzhou, was attacked on December 30th.
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