Indonesian Stocks: Adaro, Medco Energi, London Sumatra Indonesia
The Jakarta Composite index fell 1.4 percent to 4,158.86, the sharpest drop since April 4.
Coal producers: PT Bumi Resources (BUMI) , Asia’s biggest exporter of power-station coal, retreated 2.7 percent to 1,970 rupiah, the lowest close since Oct. 10. PT Adaro Energy (ADRO) , Indonesia’s second-largest coal miner, lost 2.2 percent to 1,770 rupiah.
The government cut the benchmark price for May coal sales to $102.12 a metric ton from $105.61 in April, the directorate general of coal and minerals said in a statement on its website. That’s the lowest level since November 2010.
Energy companies: PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, sank 5.5 percent to 2,150 rupiah, the steepest drop since Oct. 20. PT Energi Mega Persada (ENRG) , the second largest, slid 1.6 percent to 183 rupiah. Crude-oil futures slumped as much as 3.2 percent to the lowest intraday price since Dec. 20, extending a 4 percent drop on May 4.
Rubber producers: PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP) , the nation’s second-biggest listed plantation company by market value, fell 3.8 percent to 2,525 rupiah. PT Bakrie Sumatera Plantations (UNSP) declined 3.4 percent to 285 rupiah.
October-delivery rubber fell 3.5 percent to settle at 304.7 yen a kilogram ($3,817 a metric ton) on the Tokyo Commodity Exchange. It was the biggest one-day loss since April 11, trimming this year’s advance to 16 percent.
To contact the reporter on this story: Berni Moestafa in Jakarta at email@example.com
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