China's Oil Giants Surge; PetroChina Stock Hits 11-Year High

PetroChina and CNOOC Hit Daily Limit-Up in Coordinated Rally

China's major state-owned energy firms saw their stocks rise sharply in a synchronized advance. PetroChina's shares hit the daily trading limit-up for the second consecutive day, pushing the price to a new 11-year high. Simultaneously, CNOOC's stock also reached its limit-up during the trading session, establishing a new historical price peak. The rally was broad-based, with China's third oil major, Sinopec, posting a significant gain of over 8%.

Combined Market Cap Exceeds 3.5 Trillion Yuan

The powerful price movement dramatically increased the valuations of these state-owned enterprises. PetroChina's combined A-share and H-share market capitalization swelled to over 2.3 trillion yuan following its two-day surge. CNOOC's total market value broke through the 1.2 trillion yuan mark. The collective rally underscores strong investor sentiment for the energy sector and could indicate a broader reassessment of the value of key Chinese state-owned assets.