Hong Kong Stock Movement | SHANDONG MOLONG (00568) Surges Nearly 11% as Israeli Attack in Qatar Reignites Middle East Geopolitical Risks

Stock News
Sep 10

SHANDONG MOLONG (00568) surged nearly 11%. As of press time, the stock gained 10.89% to HK$4.48 with a trading volume of HK$457 million.

On the news front, Israeli attacks in Qatar have reignited Middle East geopolitical risks. Overnight, WTI October crude oil futures closed at $62.63 per barrel, up 0.59%, while Brent November crude oil futures closed at $66.39 per barrel, up 0.56%.

On the 9th local time, an explosion occurred in the Katara area north of Doha, Qatar's capital. Following the explosion, the Israel Defense Forces and Israel Security Agency (Shin Bet) issued a joint statement confirming they had conducted a precise strike against senior Hamas leadership.

However, Huatai Futures believes that although Middle East conflicts have resurfaced, after experiencing the roller-coaster market conditions in June, the market has realized that conflicts will not affect energy infrastructure. While there may be short-term emotional impact, the influence on crude oil fundamentals remains limited.

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