Shandong Molong's Dual-Listed Shares Climb in Afternoon Trading, H-Share Surge Exceeds 9%

Stock News
Feb 06

Shandong Molong Petroleum Machinery (00568) saw its H-shares surge more than 9% during afternoon trading. At the time of writing, the stock was up 8.12% to HK$4.13, with a turnover of HK$239 million. The rise in oil and gas stocks is attributed to heightened geopolitical risks in the Middle East. According to reports, on February 5 Eastern Time, the U.S. Department of State issued a security alert via its "Virtual Embassy Tehran" stating that Iran continues to intensify nationwide security controls amid ongoing tensions. The U.S. urged its citizens to depart Iran as soon as possible and make independent evacuation plans without relying on U.S. government assistance. Those unable to leave immediately were advised to shelter in place, stock essential supplies, avoid demonstrations, and maintain a low profile. Additionally, Iran and the United States are scheduled to hold nuclear talks in the capital of Oman around 10:00 a.m. local time (2:00 p.m. Beijing time) today, February 6.

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