Editorial Summary

The Shanghai Composite Index rose 0.18 percent to close at 2,874.103 while the Shenzhen Composite Index fell 1.84 percent to close at 840.05 on Monday. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached RMB 43.221 billion and RMB 22.243 billion, respectively. A National Development and Reform Commission (NDRC) chief said on Sunday that the government would release more policies to encourage energy conservation and regulate oil and gas prices, reports Shanghai Securities News.

Shares of China Petroleum & Chemical Corporation (Sinopec Corp.) (600028.SH, 0386.HK, NYSE: SNP) jumped 6.64 percent to close at RMB 11.89, while shares of China's largest oil and gas producer PetroChina (601857.SH, 0857.HK, NYSE: PTR) rose 2.60 percent to reach RMB 15.38. Sinopec has increased July import aims from 50 tons of petroleum products to 100 tons, reports New Express. Sinopec general manager Su Shulin said the company will increase diesel fuel production and decrease kerosene and petrol production. PetroChina announced on June 15 that it will issue RMB 60 billion in bonds and acquire the oil product businesses and assets of its shareholders, reports Shanghai Securities News.