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| HSI1 | 25,335.95 | +272.24 | 350.93B |
| HSCEI1 | 8,582.74 | +83.21 | 156.54B |
| Back Zoom + Zoom - Block Traded | |
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2026-03-25 11:40:09 China's National Development and Reform Commission (NDRC) earlier announced an increase in domestic gasoline/ diesel prices by RMB1,160/ RMB1,115 per ton each, approx. 47-50% lower than the mechanism-implied adjustments, JPMorgan published a research report saying. The broker expected the market to interpret this as slightly negative for SINOPEC CORP (00386.HK) in the short term, as it refined 5 million barrels per day, with over 80% sourced from seaborne crude oil imports. This will result in higher crude oil costs for at least the next 10 working days, while the Company must sell refined oil at a lower benchmark price. JPMorgan believed that, given that only about 13% of PETROCHINA (00857.HK)'s refining business relies on seaborne crude oil import, it is better positioned to withstand the increased refining oil costs due to the Middle East war. JPMorgan lowered its 2026 net profit forecast for SINOPEC CORP by 28%, but raised its 2027 forecast by 5%. Therefore, the broker trimmed its target prices for SINOPEC CORP's H-/ A-shares from $5.5/ RMB7.2 to $5/ RMB6.5, with ratings kept at Neutral. ~ AASTOCKS Financial News Website: www.aastocks.com | |