Indonesian stocks closed lower

Indonesia Finance

Thursday, 24 June 2010 16:13

Composite index of Indonesia Stock Exchange (IDX) contracted 0.37% as most blue chip stocks declined substantially, led by BCA, Adaro and Bumi Resources.

Only four of Top 20 stocks (by market capitalization) ended in positive territory today. Astra International advanced 1.05%, Mandiri gained 2.65%, Bukit Asam +1.76%, and BRI +0.55%.

BCA and BNI lost 2.59% and 2.08% respectively, while Adaro Energy and Bumi Resources lost 1.73% and 1.05%. Indo Tambangraya Megah also declined 1.55%, Gudang Garam -2.36%, Indocement -2.15%, Semen Gresik -1.76%, and INCO -1.9%. Outside the Top 20, Kable Farma, Aneka Tambang, and Astra Agro Lestari lost 2.38%, 1.22%, and 0.5% respectively.

Trading was relatively thin. BUMI, the highest trading value, only reached Rp219 billion, while Bukit Asam was only Rp88 billion.

Plantation stocks closed mainly lower, led by Gozco (-2.9%) and Bakrie Sumatra Plantation (-2.6%). Those listed on SGX also closed in red zone, led by Indofood Agri (-2.28%) and Golden Agri (-1.8%).

Crude oil declined further to below US$76 per barrel in Asian market, while CPO retreated to RM2386 after traded slightly higher by midday on Malaysia Derivatives Exchange.

Other markets in the region closed mixed with Straits Times lost 0.82%, Hang Seng contracted 0.49%, Sensex -0.48%, while Nikkei and KOSPI inched up 0.05% and 0.81% respectively.

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