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

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