BUZZ-China's logistics stocks fall as US Postal Service halts incoming packages

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BUZZ-China's logistics stocks fall as US Postal Service halts incoming packages

Reuters02-05

** Shares of Chinese logistics stocks fall after the U.S. Postal Service said to temporarily suspend parcels from China and Hong Kong amid Sino-U.S. trade tension, sending the CSI Modern Logistics Index .CSI930716 down 1.1%

** Eastern Air Logistics 601156.SS drops 10%, Sinotrans 601598.SS falls 2.6%, YTO Express 600233.SS eases 2.2% and S.F. Holding 002352.SZ slips as much as 0.9%

** The U.S. Postal Service said it would temporarily suspend parcels from China and Hong Kong, after President Donald Trump shut a trade loophole this week used by retailers including Temu and Shein to ship low-value packages duty-free to the U.S.

** USPS said the change would not impact the flow of letters and 'flats' from China and Hong Kong

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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Holding 002352.SZ slips as much as 0.9% ** The U.S. Postal Service said it would temporarily suspend parcels from China and Hong Kong, after President Donald Trump shut a trade loophole this week used by retailers including Temu and Shein to ship low-value packages duty-free to the U.S.** USPS said the change would not impact the flow of letters and 'flats' from China and Hong Kong (Reporting by Donny Kwok) ((donny.kwok@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}