《Economic Intelligence Bulletin, 12th Special Report》COSCO Energy (01138) H-shares currently down 4.3%, trading at HK$20.40, with approximately 8.32 million shares traded, involving HK$169 million. A-shares (SSE: 600026) are down 6.7%, trading at RMB 21.92, with RMB 876 million traded, involving 39.59 million shares. The A-shares currently show a premium of 25.3% over H-shares.
Last Friday (9th), U.S. President Trump announced easing sanctions on Russian oil, with Russian President Putin set to supply over 4.8 million tons of diesel to the U.S. and global markets. Subsequently, Trump announced that both Russia and Ukraine had agreed to an energy ceasefire, warning against violating this ceasefire commitment. Ukrainian President Zelenskyy told media that if Trump and Russian President Putin reach an agreement, Ukraine should be informed when the ceasefire will begin.
Russia's resumption of oil supply to the global market will reduce existing energy transportation demand, causing COSCO Energy to plunge sharply. In contrast, other shipping stocks may benefit from lower transportation costs following falling oil prices, with most shipping stocks performing positively; COSCO Shipping (01919) up 0.8% at HK$17.42; Orient Overseas (00316) up 4.6% at HK$160; SITC International (01308) up 2% at HK$51.05; Pacific International Lines (02343) down 0.9% at HK$3.855; TS Lines (02510) up 3% at HK$13.88.
Affected by news of Russia resuming oil supply, oil prices retreated from highs at the start of the Asian trading session. New York crude futures fell back to around $90, similar to levels just before the close of the previous Friday's Hong Kong market. Oil stocks showed little movement this morning; CNOOC (00883) unchanged at HK$23.90; PetroChina (00857) up less than 0.1% at HK$9.835; Sinopec (00386) down 0.1% at HK$4.53.
Currently, the Hang Seng Index stands at 24,360, up 149 points or 0.6%, with board turnover nearing HK$45.3 billion. The Hang Seng China Enterprises Index is at 8,195, up 47 points or 0.6%. The Hang Seng Tech Index is at 4,185, down 11 points or 0.3%.
(hc)
Last Friday (9th), U.S. President Trump announced easing sanctions on Russian oil, with Russian President Putin set to supply over 4.8 million tons of diesel to the U.S. and global markets. Subsequently, Trump announced that both Russia and Ukraine had agreed to an energy ceasefire, warning against violating this ceasefire commitment. Ukrainian President Zelenskyy told media that if Trump and Russian President Putin reach an agreement, Ukraine should be informed when the ceasefire will begin.
Russia's resumption of oil supply to the global market will reduce existing energy transportation demand, causing COSCO Energy to plunge sharply. In contrast, other shipping stocks may benefit from lower transportation costs following falling oil prices, with most shipping stocks performing positively; COSCO Shipping (01919) up 0.8% at HK$17.42; Orient Overseas (00316) up 4.6% at HK$160; SITC International (01308) up 2% at HK$51.05; Pacific International Lines (02343) down 0.9% at HK$3.855; TS Lines (02510) up 3% at HK$13.88.
Affected by news of Russia resuming oil supply, oil prices retreated from highs at the start of the Asian trading session. New York crude futures fell back to around $90, similar to levels just before the close of the previous Friday's Hong Kong market. Oil stocks showed little movement this morning; CNOOC (00883) unchanged at HK$23.90; PetroChina (00857) up less than 0.1% at HK$9.835; Sinopec (00386) down 0.1% at HK$4.53.
Currently, the Hang Seng Index stands at 24,360, up 149 points or 0.6%, with board turnover nearing HK$45.3 billion. The Hang Seng China Enterprises Index is at 8,195, up 47 points or 0.6%. The Hang Seng Tech Index is at 4,185, down 11 points or 0.3%.
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| COSCO Energy (01138) | 20.40 | Down 4.32% |
| CNOOC (00883) | 23.90 | No change |
| PetroChina (00857) | 9.835 | Up less than 0.1% |
| Sinopec (00386) | 4.53 | Down 0.11% |
| Shandong Molong (00568) | 3.69 | Down 3.28% |
| COSCO Shipping (01919) | 17.42 | Up 0.75% |
| Orient Overseas (00316) | 160.00 | Up 4.58% |
| SITC International (01308) | 51.05 | Up 2.00% |
| Pacific International Lines (02343) | 3.855 | Down 0.90% |
| TS Lines (02510) | 13.88 | Up 2.97% |
