HK Movers | Coal Stocks Jump as as Global Funds Sell on Iran War Risks

Tiger Newspress03-09

Coal stocks jumped in Hong Kong. SouthGobi and Yancoal Australia rose 6%; Yankuang Energy rose 5%; China Shenhua rose 4%; China Coal rose 3%.

Iran on Monday named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader, signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.

Mojtaba, a cleric with influence inside Iran's security forces and vast business networks ‌under his father, had been viewed as a frontrunner in the lead-up to Sunday's vote by the Assembly of Experts, a body of 88 clerics tasked with choosing Ali Khamenei's successor.

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