The Jakarta Composite index fell 1.8 percent to 3,915.16.
Metal producers: Nickel futures fell 1.8 percent to $21,305 a metric ton in London yesterday, the most since Dec. 28. Tin lost 1.7 percent to $23,975 a ton, the sharpest drop since Jan. 4. PT Vale Indonesia (INCO) , the nation’s largest producer of nickel, slid 0.6 percent to 3,975 rupiah and PT Timah (TINS) , Indonesia’s biggest tin mining company, declined 1.1 percent to 1,870 rupiah.
PT Adira Dinamika Multi Finance (ADMF) : The consumer financing company plans to sell 3.5 trillion rupiah ($389 million) of bonds this year to expand its vehicle-financing business, Bisnis Indonesia reported, citing President Director Stanley Setia Atmadja. The debt sale is part of a target to sell a total of 6 trillion rupiah of bonds in 2011 and 2012, the report said. Adira was unchanged at 12,400 rupiah.
PT Garuda Indonesia (GIAA) (GIAA IJ): The national flag carrier will invest 1.8 trillion rupiah in low-cost unit Citilink as part of a plan to separate it into a fully-owned unit with its own operating license, Investor Daily reported, citing Citilink President Director Yoseph Andrian Saul. Garuda expects to spin off Citilink in April, the report said. Garuda fell 1.8 percent to 550 rupiah.
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