SHANDONG MOLONG's stock price plummeted 7.52% during the intraday session on Thursday, reflecting significant selling pressure.
The decline was driven by a sharp drop in international oil prices, which pressured Hong Kong-listed oil and gas stocks. Brent crude fell to around $105 per barrel, while U.S. crude dropped below $100, as market expectations for a ceasefire and the reopening of the Strait of Hormuz increased. This followed former U.S. President Donald Trump stating that the U.S. and Iran are in the "final stage" of their conflict, with negotiations entering their final phase, easing geopolitical supply concerns.
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