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Hong Kong stocks unusual movement | Petroleum stocks collectively weakened due to the combined effect of easing geopolitical risks and the strengthening of the US dollar, the international oil price has significantly dropped.
Petroleum stocks collectively weakened. As of press time, China Petroleum (00857) fell 2.53%, at HKD 6.93; CNOOC (00883) fell 1.71%, at HKD 20.15; and Sinopec (00386) fell 1.06%, at HKD 4.68.
Market Chatter: PetroChina International Partners With MTR Lab for 22 EV Chargers in Kowloon Bay
PetroChina (HKG:0857, SHA:601857) unit PetroChina International launched its first 22 electric vehicle chargers at MegaBox in Kowloon Bay in cooperation with MTR Corp's tech-focused unit, Urban
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.
Crude Oil Could Be Next – TDS
The notable declines in commodity demand expectations continue to threaten the energy complex although CTAs still hold substantial ammunition to deploy on the offer, TDS senior commodity strategist Daniel Ghali note.
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.
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.
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