Indonesia Stocks Movers: Bakrie Sumatera, Timah, Vale Indonesia

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

The Jakarta Composite index fell 0.6 percent to 3,962.28.

Palm oil producers: PT Astra Agro Lestari (AALI) , the nation’s biggest listed plantation company by market value, fell 0.7 percent to 22,150 rupiah. PT Bakrie Sumatera Plantations (UNSP) , lost 1.7 percent to 290 rupiah.

The May-delivery contract fell as much as 1.1 percent to 3,233 ringgit ($1,076) a metric ton on the Malaysia Derivatives Exchange.

PT Timah (TINS) : Indonesia’s largest tin producer, dropped 1.5 percent to 1,940 rupiah. Timah will manage its capital expenditure spending over a set period of time and may spend 1.8 trillion rupiah this year, Corporate Secretary Abrun Abubakar said by phone in Jakarta today. The Jakarta Globe reported today the company will cut its capital expenditure from an earlier estimate of 3 trillion rupiah.

PT Vale Indonesia (INCO) , the nation’s largest producer of the metal, dropped 2.1 percent to 3,550 rupiah. Nickel futures retreated 2.6 percent to $19,255 a metric ton in London yesterday.

To contact the reporter on this story: Femi Adi in Jakarta at fadi1@bloomberg.net

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

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