Changes in Hong Kong stocks | CNPC shares (00857) rose more than 3% in early trading, concerns about the US-Iran conflict heated up again, and the company's profit for the third quarter slightly exceeded expectations

The Zhitong Finance App learned that CNPC shares (00857) rose more than 3% in early trading. As of press release, it rose 2.69% to HK$10.32, with a turnover of HK$398 million.

According to the news, on the evening of November 12, multiple explosions were reported in the Sirik region of Iran's Hormozgan province. Iran claimed that it was a “military” attack. Trump said that the US does not need to reach an agreement with Iran. At the same time, he also asked Vance to turn his attention to domestic affairs rather than negotiations with Iraq. Overnight, WTI crude futures rose 2.6%, and Brent crude rose 3.3%.

According to a research report released by Huatai Securities, the net profit due to the third quarter was slightly higher than our forecast of 50.2 billion yuan. The main reason was that crude oil processing volume exceeded expectations and profit improvements in refined and chemical products. Considering the company's advantages in stabilizing oil and gas and increasing the entire industry chain, it maintained an A/H “increase in holdings” rating.