Indonesia Stocks Movers: Bakrie Sumatera, Timah, Vale Indonesia

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

The Jakarta Composite index fell 0.6 percent to 3,962.28.

Palm oil producers: PT Astra Agro Lestari (AALI IJ), the nation’s biggest listed plantation company by market value, fell 0.7 percent to 22,150 rupiah. PT Bakrie Sumatera Plantations (UNSP IJ), lost 1.7 percent to 290 rupiah.

The May-delivery contract fell as much as 1.1 percent to 3,233 ringgit ($1,076) a metric ton on the Malaysia Derivatives Exchange.

PT Timah (TINS IJ): Indonesia’s largest tin producer, dropped 1.5 percent to 1,940 rupiah. Timah will manage its capital expenditure spending over a set period of time and may spend 1.8 trillion rupiah this year, Corporate Secretary Abrun Abubakar said by phone in Jakarta today. The Jakarta Globe reported today the company will cut its capital expenditure from an earlier estimate of 3 trillion rupiah.

PT Vale Indonesia (INCO IJ), the nation’s largest producer of the metal, dropped 2.1 percent to 3,550 rupiah. Nickel futures retreated 2.6 percent to $19,255 a metric ton in London yesterday.

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