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HSI Slips ~600 Pts; CATHAY PAC AIR Falls ~6%, 3 Major CN Airlines Once Tumble 10%+; New York Oil Futures Spike 28%
Recommend 4 Positive 5 Negative 9 |
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With Middle East tensions flaring up, not only has the Strait of Hormuz remained nearly completely blocked for the seventh consecutive day, but multiple oil-producing countries in the Gulf have announced production cuts. International oil prices zoomed higher this morning (9th). New York oil futures for April delivery last rose by 28.3% to USD116.59 per barrel, while Brent oil futures for May delivery grew by 26.1% to USD116.86 per barrel. The HSI opened 681 points lower this morning and once sank by 851 points in early trading to a bottom of 24,906. It last printed at 25,159, down 597 points or 2.3%, with a turnover of HKD168.34 billion. Oil-sensitive airlines were subdued. CATHAY PAC AIR (00293.HK) once fell by 7.3% intraday to a bottom of HKD11.89. It last traded at HKD12.09, down 5.77%, with a turnover of HKD133 million. CHINA EAST AIR (00670.HK) once plunged by 13.1% in early trading to a bottom of HKD3.92. It was last at HKD4.22, down 6.43%, with a volume of 33.1873 million shares, involving HKD135 million. AIR CHINA (00753.HK) once tumbled by 10.7% to a bottom of HKD5.27. It last printed at HKD5.43, down 7.97%, with a turnover of HKD161 million. CHINA SOUTH AIR (01055.HK) once collapsed by 10.8% to a bottom of HKD4.38. It last traded at HKD4.57, down 6.92%, with a turnover of HKD105 million. AAStocks Financial News |
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