Hong Kong stocks move unexpectedly | CNOOC ((00883)) falls more than 4% at the close, signals of de-escalation in Iran, international oil prices plummet across the board overnight

LootboxPhobia · 2026-03-24T09:05:29+00:00

CNOOC stock price fell more than 4% at the close, affected by a sharp decline in international oil prices, as Trump hinted at a possible deal with Iran. Shipping traffic through the Strait of Hormuz was disrupted, with a significant 95% reduction in merchant vessel passages.

LootboxPhobia

2026-03-24 09:05:29

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CITIC Finance APP learned that CNOOC (00883) fell more than 4% at the close. As of the time of writing, it was down 3.93%, trading at HKD 29.3, with a turnover of HKD 6.916 billion.

On the news front, U.S. President Trump hinted at a possible agreement with Iran. International oil prices plummeted on Monday, with both WTI and Brent crude dropping over 14% at one point, and closing down more than 10% for the day. Notably, there were reports this afternoon that Iran had received messages from the U.S. through mediators.

According to Xinhua News Agency, since the outbreak of the conflict between the U.S., Israel, and Iran, global energy transportation through the Strait of Hormuz has been severely disrupted. Market service agencies data shows that since March, the number of merchant ships passing through this strait has decreased by 95% compared to before the conflict. Data indicates that from March 1 to 16:00 GMT on March 23, the number of merchant ships passing through the Strait of Hormuz was only 144, a 95% decrease compared to the outbreak of the conflict on February 28.

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