MARKET TALK: Chalco Dn 0.7%;Templeton Ups Stake To 15.04%

Chalco (2600.HK) down 0.7% at HK$5.40 though manages to outperform other commodity plays with Angang (0347.HK) down 2.8%, Jiangxi Copper (0358.HK) down 1.4%, Zijin (2899.HK) off 4.7%. Relative outperformance likely helped by exchange disclosure that Templeton Asset Management bought 11.4 million shares at average price of HK$5.474/share on Oct. 18, upping stake to 15.04% from 14.75%. Still, Dao Heng sticks to Sell call on Chalco as expects "further decline in alumina price next year."