Tiny Japan shipping shares jump on DPRK detente hopes

Published: June 15, 2018 14:21:22

Shares of small Japanese shippers jumped this week after the historic summit between US President Donald Trump and North Korean leader Kim Jong Un sparked hopes of news business ties with the reclusive country, according to Reuters.

Japanese retail investors are snatching up shares of the firms that may benefit from a potential thaw between Tokyo and Pyongyang, even though the Japanese government has been a staunch supporter of “maximum pressure” on North Korea.

Shares of Rinko Corp, a marine transportation company, jumped 17 per cent this week with the heaviest trading volume in more than two years.

The firm is based in the port city of Niigata, a major hub for trade with the areas surrounding the Sea of Japan, such as Russian Far East and the Korean Peninsula.

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