Market Update! On April 8, 2025, the price of crude oil dropped by 1.58%, with the Brent Crude price falling in response. The China National Petroleum Corporation, alongside several major companies in the crude oil market, issued a statement about recent developments: Buybacks are being initiated! The State Administration of Foreign Exchange has also made its announcement.
As of April 8, the three major indices showed a mixed performance, with the Shanghai Composite Index down by 1.58%, while the Shenzhen Component Index managed a slight increase of 0.64%. The ChiNext Index saw a rise of 1.83%. Trading volumes in both Shanghai and Shenzhen exceeded 1.6 million lots, marking a significant drop compared to the previous trading day.
In terms of sector performance, the strong sectors included those related to food and beverage services, as well as consumer goods. However, the market for energy stocks and related businesses faced challenges. By April 8, the total trading volume of crude oil futures contracts in China amounted to over 3200 lots, with Brent Crude prices still under pressure.
Looking forward, several firms have announced buyback plans, and more than 30 companies have begun implementing these strategies, indicating a shift towards stability in the market. The China National Petroleum Corporation has also revealed plans for a substantial buyback program.
China National Petroleum aims to focus on strengthening its market position through enhanced buyback measures. The company expects to acquire shares worth between 30 billion and 60 billion RMB, emphasizing its commitment to shareholder value and market stability.
As of April 8, the company has already initiated substantial buyback efforts, reflecting a proactive approach to stabilize its stock prices amidst ongoing market fluctuations. The focus remains on maintaining a strong financial foundation while adapting to the evolving economic landscape.
In summary, the market is responding to current trends with a mix of cautious optimism and strategic buyback initiatives from key players. The ongoing efforts to stabilize prices and enhance shareholder value will be crucial in shaping the future of the energy sector in China.
