HK Stock Market Move | Under the conflict in the Middle East, oil prices have broken $100 again. Oil and gas stock Shandong Molong Petroleum Machinery (00568) surged over 7%.
Shandong Molong (00568) rose more than 7%, as of the time of publication, rising by 7.02% to 11.59 Hong Kong dollars, with a trading volume of 726 million Hong Kong dollars.
Shandong Molong Petroleum Machinery (00568) rose more than 7%, at the time of writing, it rose by 7.02%, trading at HK$11.59, with a turnover of HK$7.26 billion.
On the news front, the new Iranian Supreme Leader's first statement shattered hopes that the war could escalate quickly, leading to a renewed rise in crude oil prices. Previously, Mujeetaba Hameeneyi said he would not give up revenge and the Strait of Hormuz would remain closed.
It is worth noting that Shandong Molong Petroleum Machinery recently announced that its various production and business activities are normal, and the short-term fluctuations in the international oil market have no substantial positive impact on the company's performance. Investors are reminded to make rational decisions, invest cautiously, and be aware of the risks in secondary market trading.
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