Wolf Money(China Petroleum & Chemical Corp HKEx 0386)

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I bought a small quantity of China Petroleum & Chemical Corp or better known as Sinopec, HKEx 0386. I am hedging my bet with some exposure to oil. I believe oil price is ripe for an increase in the second half of this year due to events which are not limited to the following. Some are company specific merits. 

1.) Saudi cutting maximum daily production from 13m to 12m barrels

2.)There was a recent big discovery of gas deposit in Sichuan by Sinopec. 

3.) Houthi attacks on vessels traveling through the Red Sea is causing disruption to oil shipments. The general increase in geopolitical tensions in the Middle East.

4.) A rate cut by the Fed in the second half of 2024 will be positive for oil price.

5.) The continue recovery of the Chinese economy in 2024.

6.) Sinopec pays a dividend close to 9.8% gross(foreigners living outside HK will have a 10% withholding tax)

More details will be shared in the month end portfolio review.

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https://t.me/joinchat/oCgkD3sQFRMzMWM1



Disclaimers 

All investments is highly speculative in nature and involves substantial risk of loss. We encourage our reader to invest very carefully. We also encourage reader to get personal advice from your professional investment advisor and to make independent investigations before acting on information that we publish. Much of our information is derived directly from information published by companies or submitted to governmental agencies on which we believe are reliable but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way whatsoever warrant or guarantee the success of any action you take in reliance on our statements. All information provided are for education only. Buyer beware,do you own due diligence.


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