$SHANDONG MOLONG(00568.HK) rose by six or seven points, with the oil service small-cap stock forging its own independent pulse; $Chevron(CVX.US) and $CHINA SHENHUA(01088.HK) both saw slight gains, while $COSCO SHIP HOLD(01919.HK) remained basically unchanged.
In a trading session where risk appetite contracted, the relative returns of the old economy high-dividend portfolio emerged—cash flow assets have natural buying support amid expectations that interest rates have peaked.
Neither freight rates nor oil prices provided clear direction, but the holding logic for Shenhua and COSCO Shipping was never about elasticity, but rather the three words "can't fall further".
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