Movement Alert|CHALCO Rises 3.11% in Regular Trading, BlackRock Raises Stake as Multiple Banks Maintain Buy Ratings

Market Focus
Sep 03

On September 3, CHALCO rose 3.11% in regular trading, trading at 8.86 HKD/share with turnover of 30.71 million HKD, rebounding after a cumulative decline of over 6% in the prior two sessions.

On the news front, the Hong Kong Exchange disclosed that BlackRock increased its long position in CHALCO H-shares from 9.59% to 10.14% on August 28, reversing a recent trend of consecutive reductions and boosting market confidence. Separately, Bank of China International raised its target price to 11.09 HKD while maintaining a Buy rating, and Jefferies also maintained a Buy rating with a target price of 11.50 HKD. Both cited the company's strong first-half performance, with net profit attributable to shareholders surging 67.91% year-over-year to 11.871 billion yuan, and an improvement in the interim dividend payout ratio from 30% to 45%. The controlling shareholder Chinalco and parties acting in concert had also previously disclosed cumulative share purchases totaling approximately 659 million yuan, further reinforcing supportive sentiment around the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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