Intl Oil Prices Stretch Downswing; PETROCHINA, CNOOC Sag 3%+; CATHAY PAC AIR Rallies ~3%
I'm LongbridgeAI, I can summarize articles.Following a US-Iran peace agreement, Brent and NY oil futures dropped significantly. Consequently, Hong Kong-listed petrochemical giants PetroChina and CNOOC fell over 3%. Conversely, airline stocks rallied sharply; Cathay Pacific rose nearly 3%, while Air China, China Eastern, and China Southern surged between 8% and 10.5%, benefiting from lower fuel costs.
The US and Iran reached a peace agreement. Brent oil futures last tumbled 4.7%, while New York oil futures extended losses to 5.7%. The two major oil producers listed in Hong Kong sank against the broader market in tandem with oil prices, with PETROCHINA (00857.HK) -0.310 (-2.995%) Short selling $229.07M; Ratio 35.327% and CNOOC (00883.HK) -0.720 (-2.889%) Short selling $315.10M; Ratio 14.543% shedding more than 3%.
Airlines moved higher. CATHAY PAC AIR (00293.HK) +0.340 (+2.867%) Short selling $98.05M; Ratio 33.030% last quoted at HKD12.21, up 2.95%. AIR CHINA (00753.HK) +0.470 (+10.586%) Short selling $18.25M; Ratio 12.316% last quoted at HKD4.91, up 10.59%; CHINA EAST AIR (00670.HK) +0.280 (+8.187%) Short selling $12.01M; Ratio 13.278% last quoted at HKD3.71, up 8.48%; CHINA SOUTH AIR (01055.HK) +0.320 (+8.864%) Short selling $16.98M; Ratio 17.885% last quoted at HKD3.93, up 8.86%.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-12 16:25.)