Oil and gas stocks experienced a sharp pullback, with Intercontinental Oil and Gas and Shandong Molybdenum approaching the limit-down.

Oil and gas stocks plunged sharply in early trading, with Intercontinental Oil and Gas hitting the limit down at one point, Shandong Moleon approaching the limit down, and shares of Tongyuan Petroleum, Zhun Oil, Baker Energy, and China Mane Petroleum following suit.