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Indonesian Stock Movers: Astra International, Jasa Marga

April 4 (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 1.9 percent to 4,134.04, its first decline in seven days and the biggest since Nov. 21.

PT Astra International (ASII IJ), Indonesia’s largest automotive retailer, fell 3.6 percent to 74,000 rupiah, the sharpest drop since Feb. 24. Investors “took profit” in shares such as Astra after the market’s six-day rally, said Chandra Pasaribu, head of equity research at PT Danareksa Sekuritas in Jakarta. Astra advanced 7.3 percent in a four-day rally from March 29 through yesterday.

PT Jasa Marga (JSMR IJ), Indonesia’s biggest tollroad operator, fell 3.4 percent to 4,925 rupiah, the biggest loss since Oct. 3. Jasa Marga plans to sell its remaining 81.6 million shares in rival PT Citra Marga Nusaphala Persada, the company said, without providing a timeframe. The sale will reduce Jasa Marga’s revenue from Citra Marga sales, leading to “negative sentiment,” PT Recapital Securities wrote in a note today.

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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