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 sector perspective, 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 once more, and gas, shipping, and port stocks rose against the trend.

As of midday close, the Shanghai Composite Index was at 4,179.46 points, down 0.07%; the Shenzhen Component Index fell 1.05%, the ChiNext Index dropped 0.44%, and the STAR Market Index declined 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 time of writing, the Hang Seng Index fell 0.31%, and the Hang Seng Tech Index dropped 1.05%.

Let’s look at 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 related to oil exploration, natural gas, and shipping all followed suit.

Several oil and gas stocks hit the daily limit again. PetroChina, CNOOC, and Sinopec all closed at the daily limit. Shouhua Gas rose by 20%, Guanghui Energy, Shanghai Petrochemical, Intercontinental Oil & Gas, Blue Flame Holdings, Hesong Petroleum, and Taishan Petroleum all hit the daily limit.

Oil and gas exploration stocks led the market rally, with shipping and port stocks maintaining strong momentum. Tongyuan Petroleum and QianNeng Hengxin both hit the 20% daily limit; Xinjing Power, Deshi Shares, and Haimo Technology rose over 15%. China Oil Engineering, COSCO Shipping, COSCO South China, Beiken Energy, Zhongman Petroleum, and Zhunyou Shares all hit the daily limit.

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

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

Major Financial Sector Rises

Banks Rebound Against the Trend

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

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

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

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

Commercial Aerospace Sector Falls Sharply

In early trading, the aerospace and 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%.

Dongcai Chart Explanation · Key Insights

(Source: China Fund News)