Citi published a report stating that it maintained the Tianjin Port Development (03382-HK) selling rating, with a target price of HK$1.25. According to Citi, December was the worst month in history for container throughput in China. The throughput of the two largest container terminals in Shanghai and Shenzhen fell by 6.0% and 15.7%, respectively. Port stocks have recently been boosted by expectations of global economic recovery, but are still facing weakening fundamentals and many uncertainties. Citi expects that overall, the throughput of China's container terminals will decline in the first half of 2009, and that the throughput will probably remain the same throughout the year. The development of Tianjin Port dropped 3.45% to HK$1.96 yesterday.