HK Stock Market Move | Some oil and gas stocks rose. PETRO-KING (02178) surged over 28% while Shandong Molong Petroleum Machinery (00568) rose nearly 6%.

Some oil and gas stocks rose. As of the time of writing, PETRO-KING (02178) rose by 28.57% to HK$0.36; CHINA OIL & GAS (00603) rose by 17.41% to HK$0.236; MIE HOLDINGS (01555) rose by 7.5% to HK$0.043; Shandong Molong Petroleum Machinery (00568) rose by 5.71% to HK$11.84. On the news front, the tense situation in the Middle East continues. According to Xinhua News Agency, senior US officials recently briefed Israel and other countries that the US may have no choice but to launch ground military operations on Iran's Kharg Island. It is worth noting that on the evening of March 21st local time, US President Trump posted on social media, giving Iran a "48-hour" ultimatum to restore "completely threat-free" passage through the Strait of Hormuz, otherwise the US will strike Iranian power facilities.