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Crude Oil Prices Under Pressure From Weak Chinese Demand, ANZ Bank Says
China Lowers Petroleum Prices in Line With Decline in Global Prices
Northbound funds trend: Northbound funds sold a net of 4.66 billion yuan worth of Hong Kong stocks, with domestic investors selling over 2.1 billion yuan worth of Hong Kong Tracker Fund (02800).
On July 25th, the Hong Kong stock market saw net sales of 4.66 billion Hong Kong dollars from Northbound trading, with a net sell of 1.838 billion Hong Kong dollars from the Shanghai-Hong Kong Stock Connect and a net sell of 2.823 billion Hong Kong dollars from the Shenzhen-Hong Kong Stock Connect.
Hong Kong stock market mid-day review: Hang Seng Index fell by 1.42%, recording 3 consecutive declines. Technology and financial stocks and other weights fell across the board. Photovoltaic stocks bucked the trend and rose.
The three major indexes continue to decline, all recording three consecutive falls.
Hong Kong stock anomaly | Petroleum stocks all fell, demand concerns put pressure on oil prices, refined oil may usher in a new round of price cuts.
Petroleum stocks are all down. As of the time of writing, PetroChina (00857) fell by 3.39%, reporting 6.84 Hong Kong dollars; CNOOC (00883) fell by 3.01%, reporting 19.98 Hong Kong dollars; and Sinopec (00386) fell by 1.21%, reporting 4.88 Hong Kong dollars.
Oil Steadies After US Crude Stockpiles Log Fourth Weekly Draw
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