June 12, 2009 (Chinavestor) - U.S.-based financial holding company JPMorgan Chase & Co has raised its shareholding in Aluminum Corp of China Ltd (Chalco)<SHA:601600><HKG:2600><NYSE:ACH> to 5.03% from 4.98% on June 8, according to the bourse operator Hong Kong Exchanges and Clearing (HKEx)<HKG:0388>.
HKEx said in a statement that JPMorgan Chase has acquired 1.956 million H-shares in Chalco for HK$15.59 million. The average price of the share transaction was HK$7.97 apiece.
Evidence suggest China is on a way to recovery where construction materials will be in high demand. New lending doubled in May, according to the Central Bank. Retail sales jumped, industrial growth output accelerated, fixed asset investment grew faster than last year while inflation eased.
H-shares of Chalco soared 3.5% to end at HK$8.69 on Friday.
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