Astra International, Gas Negara: Indonesian Equity Preview

Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.

The Jakarta Composite index rose 0.2 percent to 3,860.46.

Energy companies: Crude oil for July delivery fell to an eight-month low, losing 0.8 percent to $82.62 a barrel in New York yesterday. The contract was last at $82.43 in after-hours trading. PT Medco Energi Internasional (MEDC) , Indonesia’s biggest listed oil company, declined 2.1 percent to 1,830 rupiah and PT Energi Mega Persada (ENRG) , the second largest, sank 5 percent to 134 rupiah.

PT Astra International (ASII) : Indonesia’s May domestic motorcycle sales declined to 611,251 units from 617,508 units a month earlier, the company said. Car sales increased to 95,499 units in May from 87,094 units a month earlier, it said. Astra, Indonesia’s biggest automotive retailer, advanced 3 percent to 6,850 rupiah.

PT Perusahaan Gas Negara (PGAS) : Indonesia’s biggest gas distributor was cut to sell at UBS AG, which said the company is likely to lose its competitive advantage in West Java as supply shifts to liquefied natural gas. Gas Negara lost 2.8 percent to 3,525 rupiah.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.