China-funded petrochemical stocks continued to be under selling pressure

Hong Kong's Chinese-funded oil and petrochemical unit continued to be put under pressure on 18th, ignoring the mainland petrochemical revitalization planning guidance will be issued in July, as well as the international oil price overnight high income, CNOOC fell 1.34%, PetroChina fell 1.16%, Sinopec also fell 0.18%. HONG Kong stock market continued to fall June 18 morning, the HSI reported 17,900.9 points, 183.7 points or 1.02%, the state-owned enterprise index reported 10,605 83 points, down 94.32 or 0.88%; the Chinese petroleum and petrochemical stocks continued to be put under pressure, ignoring the inland petrochemical revitalization planning guidance will be issued in July,　　And the high price of international oil prices on the eve of the news, upstream enterprises in CNOOC (00883) is now down 1.34%, reported 9.57 Hong Kong dollar, PetroChina (00857) fell 1.16%, reported 8.55 Hong Kong, downstream Enterprises Sinopec (00386) also fell 0.18%, a report of HK $5.56. Mainland media reported that Wang Xiaofeng, deputy director of the Ministry of Industry Development of Sinopec, said that to further refine the "petrochemical industry adjustment and revitalization plan", the association led the formulation of the "oil and chemical industry restructuring guidance" has completed the first draft, will seek the views of various ministries, according to progress can be formally announced in July Another supporting document "Oil and chemical industry revitalization support technical advice" has been basically completed, will be announced in July.　　He said that the guidance of the planning period of 5 years, will not grant new projects, mainly to do "Eleven-Five" unfinished and approved projects. The New York oil early paragraph was low at $69 a barrel, then the stability of the U.S. stock exchange, coupled with weaker dollar, and last week, crude oil inventory and July crude oil options expire, all stimulate the oil price rise, New York period oil to the 71 dollar level. New York's July oil barrel at 71.03 U.S. dollars, rose 0.56 U.S. dollars, London August Brent oil 70.85 U.S. dollars per barrel, up 0.61 U.S. dollars. In addition, Qatar oil minister Attiya said that the oil group in the short term production opportunities.