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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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