GO
| HSI1 | 19,728.14 | -50.63 | 98.17B |
| HSCEI1 | 7,172.46 | -4.68 | 38.18B |
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2025-01-23 09:35:04 HSBC Global Research said in its report that the focus for oil companies in 2025 remains on shareholder returns, suggesting that the fundamentals of Chinese oils may be dented by oil market tipping into surplus, in addition to uncertainty over downstream demand. Downstream demand is uncertain, said the broker, believing that specific factors, such as reducing losses from natural gas imports and production growth, are more important in terms of earnings resilience. Dividend remains the focus, in the broker’s view, with a preference for PETROCHINA (00857.HK). The broker trimmed its target price on PETROCHINA from $8 to $7.6, maintaining a Buy rating. The target price on CNOOC (00883.HK) was lowered slightly to $21.2 from $21.5, with a Buy rating, while the target price and rating on SINOPEC CORP (00386.HK) were maintained at $4.6 and Hold. ~ AAStocks Financial News Web Site: www.aastocks.com | |