Indonesia Stock Movers: Barito, Charon Pokphand, 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) declined 2.94 points, or 0.1 percent, to 3,752.11, falling for a second day.

PT Barito Pacific (BRPT IJ), an Indonesian ethylene maker, rose 3.3 percent to 940 rupiah. Barito sold 218.5 million shares of PT Chandra Asri Petrochemical at 4,088 rupiah each to Thailand’s Siam Cement Pcl.

PT Charoen Pokphand Indonesia (CPIN IJ), a poultry farm operator, gained 2.8 percent to 2,750 rupiah, providing the biggest support to the Jakarta Basic Industry and Chemical Index. Investor Daily Indonesia reported the company will sign agreements for a $250 million syndicated loan to refinance debt and for working capital. Two calls to Charoen Pokphand’s office in Jakarta weren’t answered.

PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), a palm oil and rubber producer, fell 2.3 percent to 2,150 rupiah, the lowest close since Feb. 28. Rubber futures in Tokyo slumped to the lowest level in four weeks after Italy’s credit rating was cut by Standard & Poor’s, deepening concern that Europe’s debt crisis is spreading and stalling the economic recovery.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

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

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