Japanese Shipping Companies' Shares Climb Amid Houthi Attacks in Red Sea

By Ronnie Harui

Japanese shipping companies' shares climbed Thursday amid the Houthi Yemeni rebel group's attacks on international shipping in the Red Sea.

Shares of Nippon Yusen were recently 7.75% higher at 4,710 yen ($32.87), shares of Mitsui O.S.K. Lines were up 7.1% at Y4,838 and shares of Kawasaki Kisen Kaisha were 7.7% higher at Y6,514.

Trading in equities in Tokyo resumed Thursday after being shut for holidays since the Dec. 29 close of trading.

The U.S., Britain and key allies issued what officials described as a final warning to the Houthi Yemeni rebel group on Wednesday to cease its attacks or bear the consequences.

Meanwhile, Danish shipping giant A.P. Moeller-Maersk said Tuesday that it would pause all transit through the Red Sea and Gulf of Aden until further notice following the attack on its vessel Maersk Hangzhou on Dec. 30.

Write to Ronnie Harui at ronnie.harui@wsj.com

(END) Dow Jones Newswires

January 03, 2024 22:42 ET (03:42 GMT)

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