PTR

[422fwhp]

PTR and SNP flying this am

Petro China....and China Petro   

[422fwhp]

China stocks leap 4.2 percent - Reuters

Reuters reports that China's main stock index jumped over 4% on Wednesday in a broad rally led by oil companies, as hopes grew that the market might finally have found a floor after a six-month slide. The Shanghai Composite Index fell as much as 1.84% in early trade but closed 4.15% higher at 3,278.330 points, near an intra-day high of 3,296.717. On Tuesday the index dipped below 3,000 points for the first time in 13 months, bringing its losses from last October's peak to 51%. But it then began rebounding from near major chart support at 2,956 points, the 61.8% retracement of its bull run from mid-2005... Meanwhile, there were signs this week that regulators finally wanted to halt the market's slide. The securities regulator announced restrictions on large sales of shares freed up by the expiry of lock-up periods, and fund managers said the regulator had asked some funds not to cut equity allocations... Oil companies were strong on Wednesday because of rumors that the government would take more steps, such as tax measures, to support their profits, which have been hit by shrinking refining margins as global oil prices rise... Additionally, Bloomberg reported that China will cut a tax on share trading from April 27 to support the country's stock markets after the benchmark equity index plunged 35% this year. The stamp duty will be lowered to 0.1% from 0.3%. (Briefing.com note: A number of Chinese names are trading higher in pre-mkt trading here, including HNP +9.6%, CAF +5.9%, PTR +5.1%, LFC +4.0%, SNP +3.9%) B.C