China Petroleum & Chemical Corporation (SINOPEC)
SHA:600028 ISIN:CN0005789556
China Petroleum & Chemical Corporation (Sinopec Corp.) is an energy and chemical company, which through its subsidiaries, engages in integrated oil and gas, and chemical operations in the People’s Republic of China. Oil and gas operations consist of exploring for, developing and producing crude oil and natural gas; transporting crude oil, natural gas and products by pipelines; refining crude oil into finished petroleum products, and marketing crude oil, natural gas and refined petroleum products. Chemical operations include the manufacture and marketing of a range of chemicals for industrial uses. Sinopec Corp. has five operating segments: exploration and production segment, refining segment, marketing and distribution segment and chemicals segment, and a corporate and others.
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Asian markets ended sharply lower Friday, weighed down by the weakness in the US and European markets. Japan's Nikkei Stock Average fell 1.9% as investors were still not comfortable with the recent falls of Japanese yen, but the slumping Korean won hurt shares in Seoul with the Kospi plummeted 3.7%. Shanghai and Hong Kong stocks gained about 1.5%. Today the Chinese shares opened slightly weaker while the Hong Kong shares were up 1.8 percent.
Asian major indexes were higher Friday after a late-day recovery in the U.S. market. Japan's Nikkei 225 closed up 0.96%, while Korea's Kospi ended 0.5% higher. Shanghai Composite surged 3% to over 2300 points, Hong Kong's Hang Seng Index added 2.47% and Taiwan's main index up 2.1%.
Tokyo stocks opened sharply lower Friday with investor sentiment hurt by Sony Corp.'s forecast of an annual operating loss as well as by a fall in U.S. shares overnight due to disappointing corporate earnings there. Yesterday the Aisan markets gained on the good lead from Wall Street. Hong Kong's Hang Seng Index firmed 0.6% to 12657.99. The Shanghai Composite Index added 1%. South Korea's Kospi Composite rose 1.1% to 1116.23.
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