HK Stock Market Move | Oil stocks continue to rise, supported by multiple factors boosting international oil prices. Institutions have high expectations for the profit center of the three major oil companies to rise.

Oil stocks continued to rise, as of the time of writing, PetroChina (00857) rose by 4.34% to 6.49 Hong Kong dollars; China Oilfield Services (02883) rose by 3.9% to 6.93 Hong Kong dollars; Sinopec (00386) rose by 3.78% to 4.94 Hong Kong dollars; CNOOC (00883) rose by 2.99% to 20.35 Hong Kong dollars. On the news front, the People's Bank of China, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission announced a number of major financial policies, boosting market expectations for Petrochina demand and risk appetite in the capital market; major global economies are beginning to enter an interest rate cutting cycle, to a certain extent eliminating the downside risk of oil prices; tensions in the Middle East between Israel and Hezbollah have intensified, providing strong support for oil prices amid broader regional conflict risks. EB Securities previously stated that from a dynamic perspective, amid oil price fluctuations, they remain optimistic about the long-term investment value of the "big three oil companies." With tensions in the Middle East and tightening oil supply and demand under OPEC+ leadership, they are optimistic about oil prices remaining relatively high in 2024. The "big three oil companies" have shown strong resilience in the face of oil price fluctuations, and profitability is expected to continue to increase.