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 200.32 points, or 5.6 percent, to 3,348.71, its first drop in five days. The gauge lost 8.7 percent in the third quarter, the steepest quarterly slump since the period ended December 2008.
Banks: PT Bank Mandiri (BMRI IJ), the nation’s largest bank by assets, retreated 8.7 percent to 5,750 rupiah and PT Bank Rakyat Indonesia (BBRI IJ), the biggest by revenue, plunged 9.4 percent to 5,300 rupiah. Financial shares were the biggest drag on the composite index today.
Citigroup Inc. cut the share-price estimates of Bank Mandiri, Bank Rakyat and three other banks to “reflect higher risks following currency and bond-price volatility,” Salman Ali and Robert P. Kong, analysts at Citigroup, wrote in a Sept. 30 note.
Energy companies: PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, fell 9.3 percent to 1,950 rupiah, the lowest close since March 2, 2009. PT Energi Mega Persada (ENRG IJ), the second-largest, tumbled 11 percent to 117 rupiah, the lowest close since March 9.
Crude oil futures slipped as much as 2.3 percent to $77.36 a barrel in New York, extending a 3.6 percent slump on Sept. 30.
PT Alam Sutera Realty (ASRI IJ), an Indonesian property developer, retreated 7.8 percent to 355 rupiah. Bisnis Indonesia reported Alam Sutera may postpone plans to issue about 1.1 trillion rupiah ($123 million) of dollar bonds this year because of market conditions. President Director Tri Ramadi couldn’t be reached when called at his office to confirm the report.
PT Astra Agro Lestari (AALI IJ), Indonesia’s biggest listed plantation company by market value, sank 10 percent to 17,300 rupiah, the most since Oct. 8, 2008. Palm oil futures declined 2 percent to 2,848 ringgit ($889) a metric ton in Kuala Lumpur.
PT International Nickel Indonesia (INCO IJ), the nation’s largest producer of the metal, fell 7.4 percent to 2,800 rupiah. Nickel for three-month delivery sank 5.7 percent to $17,600 a ton in London on Sept. 30, the lowest close since Feb. 9, 2010. Futures last traded at $17,885 a ton.