The formal announcement last Friday of the creation of three new free trade zones, (FTZs) based on the Shanghai model, triggered a wave of profit taking on Monday, sending many concept shares tumbling.

 

Tianjin Port Development Holdings Ltd led the fall with its share price going down 4.7 percent to 1.81HKD. But investors who had bought the company's shares earlier have nothing to complain. Despite the drop, Tianjin Port's share price was still 52 percent higher than it was six months ago when the FTZ concept began to take hold.

 

Another FTZ concept stock, Xiamen International Port Co, tumbled 4.4 percent to close at 2.19HKD Monday. But analysts said the latest faltering was just a minor adjustment to its upward spiral in the past six months when the share price advanced 92 percent.

 

Among other FTZ concept stocks, Guangdong Investment Ltd shed 2.4 percent to close at 10.42 HKD, while China International Marine Containers Co fell to 17.94 HKD, down 3.7 percent. 

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