China’s largest crude oil terminal Dalian Port Co. rose the most in five months in Hong Kong trading after boosting its first half profit by 70 percent.
Dalian rose as much as 9.1 percent to US 54cents and traded at US 52cents this morning before 11 am. The benchmark Hang Seng Index rose 2.7 percent. “Dalian Port’s profit growth will be sustainable if oil prices fall in the second half and oil imports rise at a fast pace,” Roslyn Ji an analyst from Core Pacific-Yamaichi International told, referring to the 44 percent of first-half sales from handling oil and liquefied chemicals. Dalian Port reported a net income increase of US$32.08 million late last week. Gross profit rose 13 percent to US$57.6 million.
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