Indonesian Equity Movers: Aneka Tambang, Elnusa, Energi Mega
The Jakarta Composite Index (JCI) fell for a third day, losing 0.9 percent to 3,799.77. The benchmark gauge has fallen 10 percent from its May 3 high, a drop some investors call a correction. The stock index slid 2.6 percent this week, a fourth straight weekly loss.
Energy-related companies: PT Energi Mega Persada (ENRG) , Indonesia’s second-biggest listed oil company, sank 5.5 percent to 138 rupiah. PT Elnusa (ELSA) , an oil services provider, fell 2.1 percent to 191 rupiah. Crude oil for July delivery lost 1.5 percent to $86.53 a barrel in New York yesterday, capping the biggest monthly drop in more than three years. The contract fell as much as 2 percent to $84.78 in after-hours trading.
PT Aneka Tambang (ANTM) , Indonesia’s second-biggest nickel producer, rose 1.7 percent to 1,170 rupiah, rebounding from yesterday’s 12 percent slump. Aneka is seeking $2.6 billion in financing to fund 65 percent of its projects, including the Tayan chemical-grade alumina and East Halmahera ferronickel plants, Investor Daily Indonesia reported, citing President Director Alwin Syah Loebis. Corporate Secretary Tedy Badrujaman couldn’t be reached when called at his office.
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