The Jakarta Composite Index (JCI) fell 0.2 percent to 4,069.84, its first drop in five days.
Nickel producers: PT Vale Indonesia (INCO) , Indonesia’s biggest nickel producer, declined 1.8 percent to 2,800 rupiah, while PT Aneka Tambang (ANTM) , a nickel and gold-mining company, retreated 1.4 percent to 1,400 rupiah. Nickel futures fell 2.1 percent to $16,930 a metric ton in London yesterday, the sharpest drop since June 21.
PT Bumi Resources (BUMI) , Indonesia’s largest coal producer, declined 3.3 percent to 1,170 rupiah, its first drop in five days. Bumi reported a first-quarter net loss of $100.36 million, compared with net income of $108.2 million a year ago.
“We believe consensus will move to lower earnings on disappointing first-quarter results,” Irwan Budiarto, an analyst at PT Bahana Securities, wrote in a note today.
PT Kobexindo Tractors (KOBX) , a heavy-equipment distributor, rose 15 percent to 460 rupiah on its trading debut after raising 109 billion rupiah ($11.6 million) in an initial public offering to purchase land and property and to raise working capital.
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