Sinopec Hong Kong shares hits over 3-month high on H1 profit growth

China Petroleum and Chemical

24/08/2026 03:25

** Hong Kong shares of Sinopec 0386.HK rise 6% to HK$4.67, their highest point since May 14, on course for seventh consecutive rising session
** Stock on track for the biggest one-day pct gain since October 2024 
** Top pct gainer in benchmark Hang Seng Index .HSI, which falls 2.1%
** Shanghai-listed stock 600028.SS climbs 4.3% to 5.32 yuan, highest level since August 3 
** China's Sinopec reported an unexpected 19.3% year-on-year increase in first-half net profit despite a litany of issues, including the Middle East conflict and falling demand for fuel domestically, but said it had to write down its inventories by 16 billion yuan
** YTD, Hong Kong stock down 0.2%, Shanghai-listed shares down 14.4%

(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))