Oils Outstrip Broader Mkt

The market continued to focus on the European Union’s sanction measures on Russian oil products, which will come into effect from next month. Energy stocks swelled on the back of the rising oil prices.

$SINOPEC CORP (00386.HK)$ and $KUNLUN ENERGY (00135.HK)$ gained 2.5% and 3.7%, respectively. $PETROCHINA (00857.HK)$ and $CNOOC (00883.HK)$ thrived 4.4% and 4.8%, respectively. The two companies anticipated their respective 2022 net profit to grow by 57-68% YoY and at least 100% YoY.