HK Stock Market Move | Oil and gas stocks generally fell, the United States proposed a peace talk plan with Iran, and international oil prices fell sharply.

Oil and gas stocks are generally declining. As of the time of reporting, PETRO-KING (02178) fell by 14.93% to HK$0.285; KUNLUN ENERGY (00135) fell by 8.07% to HK$7.63; Shandong Molong Petroleum Machinery (00568) fell by 7.81% to HK$9.8; CNOOC (00883) fell by 5.64% to HK$27.78; SINOPEC SSC (01033) fell by 4.21% to HK$0.91. On the news front, on March 25th, international oil prices plunged significantly. As of the time of reporting, Brent crude futures fell by nearly 6% to $94.27 per barrel, while WTI crude futures fell by over 5% to $87.61 per barrel. According to CCTV news, on Tuesday (24th), US President Trump stated that the US and Iran are "currently in negotiations" and hinted that Tehran is eager to reach a peace agreement. The US government also presented a conflict-ending proposal to Iran through Pakistan, which includes 15 conditions covering nuclear programs, missile capabilities, and regional issues. It is reported that the US is discussing with multiple mediators to hold high-level peace talks with Iran as soon as this week, but is still waiting for a response from Tehran. According to reports from Israel on the 24th, the US intends to propose a one-month ceasefire plan to discuss the aforementioned agreement containing 15 points aimed at ending the war with Iran.