On July 2, PetroChina (00857.HK) rose 3.18% in regular trading, trading at HK$8.75/share, with turnover of HK$674 million. The stock rebounded after weeks of sharp declines driven by the Hormuz Strait reopening and falling oil prices.

On the news front, a US-Iran ceasefire agreement was reached, significantly easing shipping risks through the Strait of Hormuz. Meanwhile, PetroChina and Sinopec are reportedly assessing a resumption of Iranian crude purchases for the first time in six years, following a recent US waiver permitting dollar transactions. Ample rival supplies from Saudi Arabia, Kuwait, and Iraq, combined with weak Chinese fuel demand, temper urgency, but the development opens a new procurement channel at potentially favorable pricing.

The stock had previously fallen from above HK$11.76 in early May to HK$8.79 by late June as Morgan Stanley cut Brent crude forecasts by up to $15/barrel, citing faster-than-expected Hormuz reopening. The current rebound comes as the stock trades at approximately 7.3x forward earnings with a TTM dividend yield of 6.18%, suggesting the market may view the geopolitical de-risking as already priced in.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)