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Indonesia Stock Movers: Astra International, Jasuindo, Timah

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. Jakarta-time close.

The Jakarta Composite index declined 29.39 points, or 0.7 percent, to 3,924.13, falling for the first time in five days.

PT Astra International (ASII IJ), Indonesia’s biggest automotive retailer, sank 3.2 percent to 66,300 rupiah, the sharpest drop since May 23. The stock fell amid speculation its four-day, 12 percent rally was excessive, according to Bagus Hananto, an analyst at PT Onix Capital.

Astra’s 14-day relative-strength index, which measures how rapidly prices have risen or dropped during a specific period, rose to 79 yesterday. A reading of 70 or more suggests to some analysts that a stock is poised to fall.

PT Jasuindo Tiga Perkasa (JTPE IJ), a printing company, advanced 3.2 percent to 1,630 rupiah, the highest close since May 20. PT Recapital Securities wrote in a note today the company plans to operate a smart-card plant in East Java this year at an investment cost of 140 billion rupiah ($16 million). Jasuindo President Director Allan Wibisono couldn’t be reached when called at his office in Sidoarjo, East Java.

PT Timah (TINS IJ), Indonesia’s largest tin producer, rose 2 percent to 2,550 rupiah, the highest close since June 10. Tin futures gained 0.5 percent to $25,775 a metric ton in London today, recovering from a two-day slide.

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