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Indonesia Stock Movers: Adaro Energy, Bumi Resources, Royal Oak

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March 5 (Bloomberg) -- 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 0.5 percent to 3,984.90.

Coal producers: PT Bumi Resources (BUMI IJ), the nation’s largest coal producer, slid 1 percent to 2,425 rupiah, while PT Adaro Energy (ADRO IJ), the second-biggest, retreated 1 percent to 1,950 rupiah.

Coal stocks declined as investors “digest the news” that China, the world’s biggest consumer of the fuel, reduced its economic growth forecast to 7.5 percent, from an 8 percent goal in place since 2005, according to Frederick Daniel Tanggela, an analyst at PT Bahana Securities in Jakarta.

PT Royal Oak Development (RODA IJ), a property developer, jumped 12 percent to 275 rupiah, the highest close since April 15, 2002. The company acquired 60 percent of PT Megatama Karya Gemilang through an affiliated transaction, Royal Oak said.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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