PetroChina: buy the rumor, sell the news?

PetroChina's shares bucked the sharp downward trend in Hong Kong today. The Hang Seng Index finally closed down 3.7%, but Petrochina only closed down 0.85% and even traded up during large periods intra-day. Could the company's announcement that it now expects to finally list on the domestic Chinese Shanghai stock market on Nov. 5th have something to do with its steady performance?

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