Indonesia Stocks: Bakrie Sumatera, Bank Negara Indonesia, Timah
Indonesia’s Jakarta Composite Index slid 19.42 points, or 0.5 percent, to 3,658.78 as of the 4 p.m. local-time close. The gauge dropped for a second day to its lowest level since Nov. 15.
Rubber producers: PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the nation’s second-biggest plantation stock by market value, slipped 0.9 percent to 11,300 rupiah. PT Bakrie Sumatera Plantations (UNSP IJ), a rubber and palm-oil producer, fell 1.3 percent to 380 rupiah.
Rubber futures fell for the first time in four days on the Tokyo Commodity Exchange, slumping as much as 3.6 percent to 356.4 yen per kilogram ($4,283 a metric ton) before settling at 359.5 yen.
PT Bank Negara Indonesia (BBNI IJ), Indonesia’s third- biggest state-owned bank, jumped 4.8 percent to 3,825 rupiah, the sharpest increase since Sept. 24. Bank Negara had its share- price estimate raised 22 percent to 4,400 rupiah by Abdul Ghofur Pahlevi, an analyst at PT Andalan Artha Advisindo Sekuritas, who said the Indonesian bank’s rights offer plan may boost lending growth and profit.
PT Timah (TINS IJ), Indonesia’s largest tin producer, lost 2.7 percent to 2,725 rupiah. Tin for three-month delivery fell 1.7 percent to $23,900 a metric ton in London yesterday, the lowest level since Sept. 27. The contract was at $24,000 a ton in after-hours trading in London.
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