Gasoline and jet fuel drop boosts stock mood

SHANGHAI: A drop in the price of gasoline and jet fuel was widely seen in the stock market yesterday as a potential boost to profits of companies in the transportation sector.

The government announced on Sunday that the prices of gasoline and jet fuel were down by 220 yuan and 90 yuan per ton, respectively, after international crude oil prices tumbled to a 19-month low.

"The move will raise investor confidence in all those listed oil-consuming companies," said Zhang Liyang, an analyst at Changjiang Securitites.