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Indonesia Stock Movers: Astra International, Energi Mega, 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 dropped 178.25 points, or 4.4 percent, to 3,842.75, a 1.2 percent decline this week.

Oil companies: PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, fell 5.9 percent to 2,375 rupiah, the most since May 25, 2010. PT Energi Mega Persada (ENRG IJ), the second-largest, dropped 7.3 percent to 190 rupiah. Oil futures in New York sank 2.7 percent to $80.20 in after-hours trading, extending yesterday’s 5.9 percent slide.

PT Astra International (ASII IJ), Indonesia’s largest automotive retailer and the nation’s biggest company by market value, plunged 9.1 percent to 66,100 rupiah, the biggest drop since March 30, 2009. Morgan Stanley cut its stock-index forecasts for the Association of Southeast Asian Nations, reducing a target of a 13 percent gain for MSCI Indonesia Index to 1 percent by the end of the year, according to a report yesterday.

PT Bakrie Telecom (BTEL IJ), a mobile-phone operator, retreated 7.7 percent to 360 rupiah, the sharpest drop since Nov. 30, 2009. The company reported a first-half net loss of 179.6 billion rupiah ($21 million) compared with a net income of 2.72 billion rupiah a year earlier.

PT Timah (TINS IJ), Indonesia’s largest tin producer, lost 6.5 percent to 2,175 rupiah, its sharpest drop since Aug. 5. Tin futures declined 5.2 percent to $22,750 a metric ton in London yesterday.

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