HK Stock Market Move | Oil stocks continue recent gains, Sinopec (00386) up more than 4%, institutions say the performance resilience of the three major oil companies is highlighted during the period of downward oil prices.

Oil stocks continued their recent upward trend. As of the time of writing, Sinopec (00386) rose by 3.6% to 4.6 Hong Kong dollars; PetroChina (00857) rose by 2.71% to 9.08 Hong Kong dollars; CNOOC (00883) rose by 2.29% to 22.3 Hong Kong dollars; and China Oilfield Services (02883) rose by 1.02% to 7.91 Hong Kong dollars. On the news front, China Petroleum & Chemical Corporation, CNOOC Limited, and PetroChina recently disclosed their third-quarter reports for 2025. EB SECURITIES believes that the performance resilience of the "three barrels of oil" during the downward oil price period is evident. Looking ahead to 2026, they will continue to maintain high capital spending, continually strengthen natural gas market development, speed up the transformation of midstream and downstream refining businesses, and are expected to achieve long-term growth across oil price cycles. Ping An Securities released a research report stating that Russia and Ukraine are mutually attacking each other's energy facilities, US-Russia relations remain tense, and uncertainties remain about the future interest rate policy. In the short term, oil prices still have some support; however, in the medium to long term, oil prices will still be anchored to fundamentals. With the continued progress of OPEC+ production increases, the expectation of oversupply after the peak season may gradually come true, and there are concerns about further downward movement in the central oil price.