HK Stock Movement | COSCO SHIP ENGY (01138) Rises Over 5%; Geopolitical Disruptions Benefit Compliant Tanker Market; Morgan Stanley Sees Attractive Short-Term Valuation

Stock News01-08

COSCO SHIP ENGY (01138) rose over 5%. As of the time of writing, the stock was up 5.63%, trading at HKD 10.13, with a turnover of HKD 125 million. Recent reports indicate that the United States has seized a Russian-flagged tanker linked to Venezuela, part of efforts to dominate energy flows in the Americas and pressure the Venezuelan government to align with US interests. The White House also stated that various options for acquiring Greenland are under discussion, including the potential use of military force. Morgan Stanley recently noted that it believes the share price of COSCO SHIP ENGY will see absolute gains over the next 30 days. This view is based on the stock's recent pullback, which has made its short-term valuation more attractive. Morgan Stanley observes that demand for legitimate tankers is increasing amid the current geopolitical dynamics.

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