Indonesia Stocks: Bukit Asam, Indo Tambangraya, Kalbe Farma
Stock Chart for Tambang Batubara Bukit Asam Persero Tbk PT (PTBA)
The Jakarta Composite index slid 0.1 percent to 4,022.17.
Coal producers: PT Tambang Batubara Bukit Asam (PTBA) , a state-coal producer, declined 0.5 percent to 20,450 rupiah. PT Indo Tambangraya Megah (ITMG) , a unit of Thailand’s largest coal miner, fell 1.5 percent to 41,500 rupiah.
Indonesia needs to further study a plan to ban the sale of lower-quality coal from 2014, according to Edi Prasodjo, the coal business director at the Energy and Mineral Resources Ministry. The government hasn’t set a target for when the ban will be applied or which type of coal it will affect because it’s still seeking feedback from miners, Prasodjo said.
PT Kalbe Farma (KLBF) , the pharmaceutical company fell 0.7 percent to 3,400 rupiah. Kalbe is in talks with five to eight firms in the region for acquisitions as the cash-rich company looks to profit growing health demand, Reuters reported, citing Vidjongtius, a director at the company. A call to Vidjongtius’s office wasn’t answered.
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