Hong Kong stocks turmoil | CNOOC (00883) fell more than 5% and led the decline in petroleum stocks. Oil prices may come under pressure in the fourth quarter. Institutions state that dividends trading heat has decreased.
Petroleum stocks continued to decline in early trading. As of press time, China Oilfield Services (00883) fell by 3.71%, to HKD 20.75. PetroChina (00857) fell by 3.35%, to HKD 7.21. China Petroleum & Chemical Corporation (02883) fell by 2.85%, to HKD 6.81. Sinopec (00386) fell by 2.45%, to HKD 4.77.
The YinHua Fund's Jiao Wei's second quarter report is out! Haier SmartHome (600690.SH) and China Yangtze Power (600900.SH) are the new top ten heavy-weighted stocks, reducing their holdings in high-end consumer products.
On July 18th, Silver Fund released its Q2 2024 report for its funds.
E Fund Zhang Kun's second quarter report is out! Once again heavily invested in Samsonite (01910) and Prada (01913).
Today, Yi Fang Da fund manager Zhang Kun disclosed the second quarter report of managed fund products in 2024. Following the first time to buy Samsonite (01910) and Prada (01913) in the fourth quarter of 2023, Zhang Kun once again heavily increased his holdings in the second quarter.
Hong Kong stocks surge | Petroleum stocks rebound collectively, US crude oil inventory drops significantly, international oil prices stop falling and rebound.
Petroleum stocks are collectively rebounding. As of press time, China National Offshore Oil (00883) has risen by 2.84% to HKD 21.75; China Oilfield Services (02883) has risen by 2.62% to HKD 7.06; Kunlun Energy (00135) has risen by 2.59% to HKD 8.33.
CNOOC has appointed Zhao Chunming as Vice President.
CNOOC (00883) announced that Mr. Xu Changgui was appointed as the company's chief geologist and no longer served as deputy chief geologist for exploration; Mr. Zhao Chunming was appointed as the company's vice president, effective from July 17, 2024.
Crude Prices May Be on the Cusp of a Breakdown – TDS
Downside pressures for Crude oil continue to grow as physical demand trends continue to deteriorate. Crude prices may be on the cusp of a breakdown, TD Securities Senior Commodity Strategist Daniel Ghali suggests.
CNOOC (00883) appointed Zhao Chunming as Vice President.
CNOOC (00883) announced that Mr. Xu Changgui was appointed as the company's Chief Geologist and no longer serves as the Deputy Director of Exploration.
Northbound funds trend: net selling of 0.316 billion yuan, domestic capital grabbed over 1.2 billion yuan to invest in Tencent (00700), and sold petroleum stocks and Hong Kong ETFs all day.
On July 17th, the Hong Kong stock market net-sold 316 million Hong Kong dollars, with a net buy-in of 1.715 billion Hong Kong dollars for the Hong Kong Stock Connect (Shanghai) and a net sell-out of 2.031 billion Hong Kong dollars for the Hong Kong Stock Connect (Shenzhen).
Hong Kong stocks fluctuate | Petroleum stocks continue to fall in early trading due to the easing of the Middle East situation and concerns over demand. International oil prices continue to decline.
Petroleum stocks continued to fall in early trading. As of press time, CNOOC (00883) fell 4.48% to HKD 21.3; PetroChina (00857) fell 4.29% to HKD 7.58; Sinopec (00386) fell 2% to HKD 4.91.
Crude Oil Extends Declines on Chinese Demand Concerns, WTI Falls Below $80
WTI tumbled below $80.00 per barrel as Crude Oil bids crumble.
Crude Oil Is on a Brink of a Turn – TDS
Crude oil markets could be about to break down. A downtape could now force trend-followers to liquidate a massive -40% of their max size, TDS senior commodity strategist Daniel Ghali notes.
Express News | Russia's Arctic LNG 2 Project Cuts Natural Gas Extraction in May by Almost Three Quarters From April, Source Says
Oil Slips on Chinese Demand Concerns Despite U.S. Rate-Cut Optimism
0756 GMT - Oil prices are edging lower on concerns over China's demand outlook despite dovish comments from Fed Chair Jerome Powell ramping up bets on a September rate cut. Brent crude is down 0.7%
CNOOC (00883) rose 1.11% against the market in the exploration area of the Bohai Zhongshen boundary with significant breakthroughs.
Jingu Finance News | CNOOC (00883) rose against the market. As of press time, it rose 1.11% to HKD 22.75, with a turnover of HKD 66.168 million. Yesterday, the company announced a major breakthrough in the exploration area of the Bohai Mid-Shelf Submarine. Longkou 7-1 oil and gas field is located in the eastern waters of the Bohai Sea, with an average water depth of about 26 meters. The discovery well LK7-1-1 drilled a total of about 76 meters of oil and gas layers, with a total drilling depth of about 4400 meters. After testing, the well produces nearly one million cubic meters of natural gas and about 210 cubic meters of crude oil per day, creating the highest record of natural gas production capacity test in Bohai Oilfield. According to UBS's report, the three major domestic
Crude Oil: Downside Pressures to Continue – TDS
Crude oil markets are also particularly vulnerable to a downtape, TD Securities senior commodity strategist Daniel Ghali notes.
Express News | CNOOC - Achieved Exploration Breakthrough in Mesozoic Buried Hill Offshore Bohai Bay
In the past four days, southbound funds have been continuously selling CNOOC, with a total of 0.86 billion Hong Kong dollars in net sales.
As of today, southbound funds had a net purchase of 4.871 billion yuan in Hong Kong stocks. Among them, there was a net purchase of tracker fund of hong kong of 1.194 billion, Hang Seng H-Share Index ETF of 0.609 billion, CSOP Hang Seng Tech Index ETF of 0.256 billion, Industrial and Commercial Bank of China of 0.203 billion, China Mobile of 0.197 billion, China Shenhua Energy of 0.11 billion, and Meituan of 0.11 billion; and a net sell of China Hongqiao of 0.378 billion and CNOOC of 0.126 billion. According to statistics, southbound funds have been net selling CNOOC for 4 consecutive days with a total of 0.86175 billion Hong Kong dollars.
Oil Slips on Stronger U.S. Dollar After Trump Assassination Attempt
Oil prices are edging lower on a stronger U.S. dollar following the attempted assassination of former President Donald Trump over the weekend. Brent crude and WTI are both down 0.1% to $84.92 and $82.
Guolian Securities: Tight balance of upstream petroleum resources, slow recovery of downstream demand.
Expected oil prices will continue to be maintained at a relatively high level, supported by the fundamentals.
United Kingdom Crude Petroleum & Natural Gas Extraction Industry Market Research Report 2024 Featuring CNOOC Petroleum Europe, BP, and TotalEnergies
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