Witness history! The "Three Big Oil" companies hit the daily limit again, and the oil and gas sector continues its strong performance

【Introduction】The oil and gas sector continues its strong momentum, with the “Big Three Oil Companies” hitting the daily limit again, while commercial aerospace stocks plummet.

Hello everyone! Let’s take a look at the latest market trends and news~

On the morning of March 3rd, the three major A-share indices all pulled back.

From a market structure perspective, sectors such as aerospace equipment, semiconductors, and small metals led the declines; meanwhile, the oil and gas sector surged again, with the “Big Three Oil Companies” hitting the daily limit collectively. Gas, shipping, and port sectors rose against the trend.

At midday, the Shanghai Composite Index was at 4,179.46 points, down 0.07%; the Shenzhen Component Index fell 1.05%; the ChiNext Index declined 0.44%; and the STAR Market Index dropped 3.15%. The CSI Dividend Index rose 1.5 against the trend.

In terms of trading volume, the combined half-day turnover of the Shanghai and Shenzhen markets exceeded 2 trillion yuan, shrinking by 55.6 billion yuan compared to the previous trading day.

The Hong Kong market continued to decline. As of the report, the Hang Seng Index fell 0.31%, and the Hang Seng Tech Index dropped 1.05%.

Let’s see the details—

Oil and Gas Sector Continues Its Strength

The “Big Three Oil Companies” Hit the Daily Limit Again

On March 3rd, the oil and gas sector surged again, with the “Big Three Oil Companies” hitting the daily limit once more. Concepts such as oil exploration, natural gas, and shipping stocks followed suit.

Several oil and gas stocks hit the daily limit again. PetroChina, CNOOC, and Sinopec all hit the daily limit collectively. Shouhua Gas saw a 20-centimeter limit-up, while Guanghui Energy, Shanghai Petrochemical, Intercontinental Oil & Gas, Blue Flame Holdings, Hesong Petroleum, and Taishan Petroleum all hit the limit.

Oil and gas exploration stocks led the market rally, with shipping and port sectors remaining strong. Tongyuan Petroleum and QianNeng Hengxin both hit the 20-centimeter limit-up; Xinjin Power, Deshi Shares, Haimo Technology, and others gained over 15%. China Oil Engineering, COSCO Shipping, COSCO South China, Beiken Energy, Zhongman Petroleum, and Zhunyou Shares all hit the limit.

According to reports, the Baltic Exchange stated that due to conflicts in the Middle East, tanker freight rates soared to record levels, with benchmark tanker daily earnings reaching $424,000. Additionally, after Qatar Energy suspended LNG production, European natural gas prices temporarily surged by 50%.

By midday, in the domestic futures market, main contracts for container shipping Europe route, fuel oil, and SC crude oil all hit the daily limit. Low-sulfur fuel oil (LU) rose over 11%, methanol nearly 11%, liquefied petroleum gas (LPG) over 8%, propylene over 7%, and polypropylene, ethylene glycol (EG), pure benzene, and plastics all increased close to 6%.

Major Financial Sector Rises

Banks Rebound Against the Trend

In the morning, the major financial sector surged, with banks, insurance, and securities firms all rising against the trend.

Bank stocks all gained. Chongqing Bank rose over 7%, Yunnan Rural Commercial Bank over 4%. Agricultural Bank of China increased over 3%, while ICBC, China Construction Bank, Bank of China, CITIC Bank, and Bank of Communications all rose over 2%.

Insurance stocks also rose across the board. New China Insurance led with a 2.31% increase, China Life gained 2.11%, and PICC and Ping An both rose 1%.

Among securities firms, Guosheng Securities, Nanhua Futures, First Venture, Hantou Securities, and CITIC Construction Investment saw notable gains.

Commercial Aerospace Sector Plummets

In early trading, the aerospace military industry sector declined sharply, with satellite internet and commercial aerospace concepts leading the fall.

In individual stocks, CETC Lantian dropped over 11%, Guobo Electronics fell over 10%. China Satcom, China Satellite, Aerospace Electronics, and AVIC Western Aircraft all declined over 6%.

(Source: China Fund News)