<div id="readability-page-1"><div>Amid market hopes that the US and Iran may be close to reaching a peace agreement, oil prices plunged by more than 10% overnight (6th). PETROCHINA (00857.HK) -0.880 (-7.534%) Short selling $550.74M; Ratio 32.455% opened 3.5% lower this morning (7th), with selling pressure persisting and losses widening in the afternoon session. The stock once hit an intraday trough of HKD10.71, at one point slumping 8.3%, and was last at HKD10.85, down 7.1%, with turnover of HKD2.448 billion.CNOOC (00883.HK) -1.320 (-4.708%) Short selling $228.83M; Ratio 8.806% fell 4.8% to HKD26.7, SINOPEC CORP (00386.HK) -0.040 (-0.849%) Short selling $89.94M; Ratio 20.767% slipped 0.8%, and CHINA OILFIELD (02883.HK) -0.510 (-5.543%) Short selling $9.01M; Ratio 10.617% dropped 5.7%. Coal stocks also moved lower, with YANKUANG ENERGY (01171.HK) -1.130 (-7.170%) Short selling $57.62M; Ratio 9.699% down 7.2%, while CHINA SHENHUA (01088.HK) -1.660 (-3.477%) Short selling $227.52M; Ratio 29.215% and CHINA COAL (01898.HK) -0.630 (-4.612%) Short selling $15.83M; Ratio 8.620% declined 3.4% and 4.5%, respectively.Airline stocks advanced. CATHAY PAC AIR (00293.HK) +0.540 (+4.467%) Short selling $7.60M; Ratio 4.860% rose 4.5%, AIR CHINA (00753.HK) +0.230 (+4.600%) Short selling $23.83M; Ratio 12.190% and CHINA SOUTH AIR (01055.HK) +0.190 (+4.567%) Short selling $12.49M; Ratio 8.837% both gained 4.6%, while CHINA EAST AIR (00670.HK) +0.160 (+3.912%) Short selling $24.29M; Ratio 14.811% added 3.9%. (wl/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-07 12:25.)</div>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</div>

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PetroChina's stock fell over 7% amid a significant drop in oil prices, which plummeted by more than 10% due to market optimism regarding a potential US-Iran peace agreement. The stock hit an intraday low of HKD10.71 before closing at HKD10.85, down 7.1%. Other oil companies like CNOOC and Sinopec also experienced declines. In contrast, airline stocks such as Cathay Pacific and Air China saw gains of around 4.5% to 4.6%.

PETROCHINA Extends Afternoon Losses to Over 7%; YANKUANG ENERGY Slumps 7%