The Jakarta Composite index slid 0.5 percent to 3,984.90.
Banks: Indonesian banks were cut to “negative” from “positive” at Daiwa Securities Group Inc., which cited a less benign outlook for net interest margins.
Nickel producers: Nickel futures declined 2.1 percent to $19,075 a ton in London yesterday, the lowest close since Jan. 6. PT Vale Indonesia (INCO) , the nation’s biggest producer of the metal, fell 2.1 percent to 3,500 rupiah and PT Aneka Tambang (ANTM) , the second largest, lost 0.5 percent to 1,930 rupiah.
PT ABM Investama (ABMM) (ABMM IJ): The company’s unit, PT Reswara Minergi Hartama, will start coal production in Sumatra’s Aceh province in June and plans to produce 6 million tons to 8 million tons of coal in 2013, Kontan reported, citing Corporate Strategy Director Yovie Priadi. ABM Investama gained 0.7 percent to 3,600 rupiah.
PT Indosat (ISAT) : The mobile phone operator’s 2011 net income rose to 835 billion rupiah ($91.3 million) from 647.2 billion rupiah a year earlier, missing the median estimate of 1.24 trillion rupiah in a Bloomberg News survey of 18 analysts. Indosat fell 2.7 percent to 5,450 rupiah.
PT Tambang Batubara Bukit Asam (PTBA) : The state-owned coal producer’s 2011 net income rose 54 percent to 3.09 trillion rupiah, missing the median estimate of 3.27 trillion rupiah in a Bloomberg News survey of 23 analysts. Bukit Asam advanced 0.2 percent to 20,900 rupiah.
To contact the reporter on this story: Berni Moestafa in Jakarta at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org