Hong Kong Stocks Movement | Oil and Gas Equipment Stock Shandong Molong (00568) Surges Over 9% with A Shares Reaching Daily Limit

Stock News10-17

Shandong Molong (00568) experienced a surge of over 9% in the afternoon, with its A shares hitting the daily limit. As of the time of this report, the stock is up 7.11% at HKD 4.37, with a trading volume of HKD 618 million. According to Xinhua News Agency, a strong cold front has frequently impacted China since October. The strongest cold air mass of the second half of the year is set to arrive, sweeping from north to south starting October 14, affecting areas as far down as South China. Northern North China, southern Northeast China, Hunan, and Guizhou are expected to be the core areas of temperature drop, with some locations experiencing declines of over 10°C. Shandong Molong operates within the energy equipment sector, which includes the manufacturing of specialized equipment for oil, natural gas, shale gas, coal, and coalbed methane extraction. Therefore, the development and prosperity of the oil and gas extraction industry are directly linked to the performance of the company’s sector.

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