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Chinese oil companies stage a strong rally, with CNOOC surging by more than 5% to hit a new record high of HK$12.68, while its Shanghai-listed shares jumping by the daily limit of 10% to hit an all-time high of 18.92 yuan at one point.
Sinopec is surging more than 5% to hit HK$4.75 in Hong Kong and jumped as much as 6.7% to hit 5.45 yuan. PetroChina surged 4.9% to hit HK$4.52 Hong Kong and gained up to 5.8% to hit 5.84 yuan in Shanghai.Â
Other oil companies are also rallying, with an index tracking the oil and gas companies, compiled by Wind Information, surging 3.4% as of 11:03 am local time, compared to 0.03% gain for the benchmark Shanghai Composite Index.