Cosco: weak sentiment likely continuing after its sister co, China Cosco (1919 HK), the listed flagship of state-owned China Ocean Shipping Group today said it expects to swing to 1H net loss bcs of higher fuel costs as well as weakening demand for international trade during the period. 1919 is scheduled to release its 1H earnings at the end of the month.
Recall, in early Aug, Cosco unleased a negative surprise in its poor 2Q11 results leading to severe downgrades from the Street.
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