Chalco shares jump 10.5 pct amid metal stocks rally

Shares in Aluminum Corp of China (Chalco) rose as much as 10.5 percent on Wednesday, in line with regional metal stocks, after BHP Billiton dropped its bid for rival Rio Tinto.

Chalco's parent, Chinalco, said on Tuesday it planned to increase its holding in Rio to at least 14.99 percent from the 12 percent it holds now, indicating that China's demand for resources will rebound.

The stock hit a session high of HK$3.25 before easing slightly to HK$3.23, up 9.9 percent at 0429 GMT.

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