China targets five U.S. subsidiaries of South Korea's Hanwha Ocean, sending shares down 8% | NYGazet

The order, which took effect immediately, will prohibit Chinese organizations and individuals from doing business with the sanctioned companies.

Shares of South Korean shipbuilder Hanwha Ocean fell more than 8% Tuesday after China sanctioned five of its U.S. subsidiaries, escalating tensions with Washington over their alleged involvement in a probe into the Chinese shipping industry. The sanc... [2032 chars]