Oil service stocks significantly retraced, Shandong Molong fell 17%, PETRO-KING dropped 21%

AASTOCKS
2026.03.10 01:49

Oil and gas equipment and service stocks saw a significant pullback today (10th) after a sharp rise yesterday (9th), as U.S. President Trump stated that the war with Iran could soon come to an end, and there are rumors of considering options to ease sanctions on Russian oil to suppress oil prices. International oil prices also dropped by about 10% this morning.

Shandong Molong (00568.HK), which surged 25% yesterday, opened down 14.93% today, hitting a low of 7 HKD. It is currently reported at 8.56 HKD, down 17.53%, with a trading volume of 74.1758 million shares, involving 593 million HKD. PETRO-KING (02178.HK) is currently reported at 0.21 HKD, down 20.75%.

CHK OIL (00632.HK) is currently reported at 0.415 HKD, down 20.19%. SINOPEC SSC (01033.HK) is currently reported at 1.1 HKD, down 7.56%. As for the "three oil giants," CNOOC (00883.HK) and PETROCHINA (00857.HK) both fell over 2%, while SINOPEC (00386.HK) is currently reported at 5.06 HKD, up 1.4%

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