The crisis in the Middle East has aggravated. Late last night (2nd) local time, an Iranian Revolutionary Guards senior official stated that the Strait of Hormuz has been closed and that Iran will strike any ships attempting to pass through it. The Iranian Revolutionary Guards has not yet issued an official statement.

The US Embassy in Saudi Arabia was reportedly attacked and set on fire by a drone. International oil prices advanced for three days in a row, with Brent crude oil futures for May delivery last quoted at US$78.83 per barrel, up 1.4%.

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Following a plunge of 570 points or 2.1% the previous day, the HSI opened 130 points higher this morning (3rd), then initially sagged as much as 151 points to a low of 25,907 before stabilizing. It last logged at 26,132, up 72 points or nearly 0.3%, with a turnover of HK$148.261 billion.

Oil service stocks continued to see speculation. SHANDONG MOLONG (00568.HK)  +2.440 (+26.096%)   , after leaping 1.16 times yesterday, opened 15% higher this morning, peaking at HK$16.33. It last traded at HK$13.74, up 46.95%, with sustained active trading at HK$6.373 billion.

SINOPEC SSC (01033.HK)  +0.180 (+13.433%)    Short selling $159.07M; Ratio 3.610%   last printed at HK$1.62, up 20.9%, with a turnover of HK$1.879 billion. PETRO-KING (02178.HK)  +0.104 (+71.233%)   last reported at HK$0.226, up 54.79%, with a turnover of HK$47.538 million. DALIPAL HLDG (01921.HK)  +0.560 (+8.485%)    Short selling $1.44M; Ratio 0.166%   last stood at HK$7.29, up 10.45%, with a turnover of HK$553 million. CHK OIL (00632.HK)  +0.290 (+48.333%)   last printed at HK$0.89, up 48.33%, with a turnover of HK$147 million. CHINA BLUECHEM (03983.HK)  +0.140 (+4.667%)    Short selling $1.91M; Ratio 1.578%   last charted at HK$3.13, up 4.33%, with a turnover of HK$36.9958 million.

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The three major oils displayed divergence. CNOOC (00883.HK)  +0.860 (+3.216%)    Short selling $1.54B; Ratio 12.891%   last quoted at HK$27.1, up 1.35%, with a turnover of HK$4.269 billion. SINOPEC CORP (00386.HK)  -0.150 (-2.683%)    Short selling $825.69M; Ratio 28.059%   was last at HK$5.52, down 1.25%, with a turnover of HK$1.136 billion. PETROCHINA (00857.HK)  +0.500 (+5.035%)    Short selling $1.62B; Ratio 31.971%   last recorded at HK$10.23, up 3.02%, with a turnover of HK$1.556 billion.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-03-03 16:25.)