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Indonesia Stocks: Astra Agro, Bank Rakyat Indonesia, PT Timah

Dec. 16 (Bloomberg) -- Indonesia’s Jakarta Composite index declined 82.14 points, or 2.3 percent, to 3,576.17 at the noon midday break. The gauge is set to drop for a fifth straight day, the longest losing streak since May.

PT Astra Agro Lestari (AALI IJ), the nation’s biggest listed plantation company, retreated 4 percent to 24,250 rupiah. Palm-oil futures dropped as much as 1.1 percent to 3,627 ringgit ($1,155) a metric ton in Kuala Lumpur.

Indonesian Banks: PT Bank Rakyat Indonesia (BBRI IJ), the nation’s second-biggest financial institution by assets, fell 4.2 percent to 10,300 rupiah. PT Bank Danamon Indonesia (BDMN) IJ), controlled by Singapore’s Temasek Holdings Pte and Deutsche Bank AG, dropped 6.6 percent to 5,700 rupiah. The country’s lending growth will likely reach the lower end of the central bank’s 2010 target of 22 percent to 24 percent, Bank Indonesia Deputy Governor Muliaman Hadad said yesterday.

PT Timah (TINS IJ), Indonesia’s largest tin producer, fell 2.8 percent to 2,625 rupiah. Tin for three-month delivery slid 1.6 percent to $25,825 a metric ton in London yesterday, the sharpest drop since Nov. 23.

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

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

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