HK Stock Market Move | Oil stocks are active against the market trend. China Oilfield Services (02883) rose more than 3%. Sinopec Shanghai Petrochemical (00338) rose more than 2%.

Oil stocks were active against the market trend. As of the time of this report, China Oilfield Services (02883) rose by 3.05% to 7.1 Hong Kong dollars; Sinopec Shanghai Petrochemical (00338) rose by 2.94% to 1.4%; CNOOC (00857) rose by 1.15% to 7.89 Hong Kong dollars; and CNOOC (00883) rose by 1.04% to 19.52 Hong Kong dollars. On the news front, on October 22, Brent crude oil futures rose by up to 2% to 62.41 US dollars per barrel; WTI crude oil futures rose above 58 US dollars, currently up nearly 2%. Ping An Securities recently pointed out that the short-term easing of Middle East geopolitical conflicts has led to a retraction of the risk premium for oil prices, but risks related to Russia, Ukraine, and the US-Sino conflicts are still brewing. In addition, uncertainties remain regarding the operation of the US government, external tariffs, and interest rate reduction policies, which may cause oil prices to fluctuate.