July 21 (Bloomberg) -- 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 rose 17.44 points or, 0.4 percent, to 4,068.07, a record close.
PT Astra Agro Lestari (AALI IJ), Indonesia’s biggest listed plantations company, gained 0.2 percent to 23,050 rupiah. Indonesia cut the tax rate on crude palm oil exports in August to 15 percent from 20 percent this month, Deddy Saleh, director general for foreign trade at the Trade Ministry, said yesterday. The government cut the base price for calculating the levy on crude palm oil to $1,017 a metric ton from $1,096 a ton, Saleh said.
PT Bank Tabungan Negara (BBTN IJ), Indonesia’s largest mortgage lender sank 5.1 percent to 1,680 rupiah, the steepest drop since Jan. 20. “With such a huge gap towards the management’s target and overhanging technical issues in the new mortgage subsidy scheme, we are less optimistic on loan growth,” PT Kim Eng Securities said in a report today.
PT BW Plantation (BWPT IJ), an Indonesian palm oil producer jumped 1.7 percent to 1,170 rupiah after PT Kim Eng Securities wrote in a note today the company’s indicative first-half net income is ahead Kim Eng’s expectation.
PT Nusantara Infrastructure (META IJ) rose 2.3 percent to 225 rupiah. The construction company hopes to get contracts to build water-processing plants in Lampung and Purwakarta valued at $134 million, Investor Daily reported, citing Director Bernadus Djonoputro. The projects will be awarded by the government, according to the report, which didn’t say when the Indonesian company plans to bid for them.
PT Timah (TINS IJ), Indonesia’s largest tin producer, slumped 1 percent to 2,525 rupiah. Tin for three-month delivery lost 1.6 percent to $27,850 a metric ton in London today.
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