WO-wheel viewpoint: CNOOC benefits from higher oil prices pay attention to its warrants

June 18, 2009, the fourth consecutive trading day, the index fell, early in the peripheral stock market under the influence of the general poor to open 129 points, and then weakened repeatedly, once fell through the low 17,710 points last week; In the afternoon after a a-share higher promotion of the decline narrowed, closing down 1.7% to 17,776 points, Is the first time since the May low of 18,000 points.　　The deal shrank to 63.6 billion yuan. On the U.S. stock market, the Dow rose 0.69% to 8555.6 points as the latest data on jobs and regional manufacturing have led investors to expect the U.S. economy to stabilise.　　Hong Kong's local blue-chip market has risen across the United States and is expected to push the index sharply higher. International crude oil, because the United States last week crude oil inventories reduced by 3.9 million barrels, more than expected, but gasoline inventories unexpectedly increased by 3.4 million barrels, New York July crude oil futures in Wednesday low see 69 U.S. dollars/barrel rebound, overnight oil prices closed to 71.37 U.S. dollars, up 0.48%. Rising oil prices are helping to boost the short-term profitability of China's offshore oil (00883.HK), which is good for short-term performance.　　In addition, as a result of the early oil price softening, CNOOC on June 2, after a new high of HK $11.44, has fallen more than 16% to 9.58 Hong Kong dollars, the short-term cumulative decline is larger, is expected to launch a technical rebound in oil prices boosted by CNOOC. If CNOOC is expected to rebound, it can pay attention to the subscription card 17178, the exercise price of 10.6 yuan, due at the end of September 09, if the light can be paid attention to the call card 16951, the exercise price of 9 yuan, expires at the end of June 2010. The investment risk of the warrant is huge, can cause the total loss of principal.