Movement Alert｜Chalco Falls 3.09% in Regular Trading, JPMorgan Stake Reduction Compounds Post-Rally Profit-Taking Pressure

Market Focus07-16 14:17

On July 16, Chalco (02600.HK) declined 3.09% in regular trading, trading at 7.85 HKD/share, with turnover of approximately 374 million HKD.

On the news front, JPMorgan reduced its holding in Chalco by approximately 11.63 million shares on July 9 at an average price of 7.48 HKD per share, totaling roughly 87 million HKD. Following the disposal, JPMorgan's stake fell from 6.23% to 5.94%. This comes after the stock surged over 9% on July 14, driven by the company's H1 profit pre-announcement projecting net income of 11.2-12.2 billion RMB, representing 58%-73% year-on-year growth. The stock has since retreated for two consecutive sessions as profit-taking pressure intensified.

Despite the short-term pullback, Morgan Stanley, Citigroup, Bank of America, and BOCI all maintain buy or overweight ratings, with target prices ranging from 9.16 to 11.2 HKD, implying meaningful upside from current levels.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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