Hong Kong Stocks Movement | US-Iran Tensions Fuel Oil & Gas Shares; Shandong Molong (00568) Surges Over 9%-To The Moon - Tiger Brokers Online Investing Community

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Hong Kong Stocks Movement | US-Iran Tensions Fuel Oil & Gas Shares; Shandong Molong (00568) Surges Over 9%

Stock News01-13 14:25

Shandong Molong (00568) surged more than 9%. As of the time of writing, the stock was up 9.34%, trading at HK$3.98 with a turnover of HK$412 million. On the news front, on January 12th, the US announced the imposition of an additional 25% tariff on countries trading with Iran and threatened military action, causing a sudden escalation in US-Iran tensions. Everbright Futures pointed out that due to Iran's unique geographical location and its significant role in the Middle East, any escalation in conflict with the US is bound to heighten geopolitical tensions, leading to sharp fluctuations in oil prices. More importantly, Iran controls the lifeline for oil transportation in the Gulf region—the Strait of Hormuz. Should Iran blockade the strait in response to threats, it would sever the primary route for Middle Eastern crude oil exports and create a risk of supply disruption.

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