Indonesia Stocks: Astra Agro, Garuda Indonesia, London Sumatra

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. Jakarta-time close.

The Jakarta Composite index (JCI) fell 1.3 percent to 3,542.23, the steepest drop since Feb. 22.

Palm oil producers: PT Astra Agro Lestari (AALI IJ), Indonesia’s biggest listed plantations company, fell 2.9 percent to 22,050 rupiah. PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the second-biggest, plunged 4.2 percent to 2,275 rupiah, the most since Dec. 17. May-delivery crude palm oil futures declined as much as 1.7 percent to 3,399 ringgit ($1,117) a metric ton in Kuala Lumpur.

PT Gajah Tunggal (GJTL IJ), Indonesia’s largest tire maker, advanced 2.3 percent to 2,200 rupiah, the highest close since Feb. 21. August-delivery rubber futures lost as much as 5.9 percent to 392.3 yen a kilogram ($4,739 a ton) on the Tokyo Commodity Exchange.

PT Garuda Indonesia (GIAA IJ), Indonesia’s biggest carrier, jumped 6 percent to 530 rupiah, the steepest increase since its Feb. 11 trading debut. Kontan reported the government may ask PT Perusahaan Pengelola Aset and PT Jaminan Sosial Tenaga Kerja to buy shares of the national carrier owned by the underwriters of the initial share sale. Pujobroto, the airline’s spokesman, didn’t return a call to his mobile phone.

To contact the reporter on this story: Yoga Rusmana in Jakarta at yrusmana@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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