Indonesia Stocks: Astra International, Kimia Farma, Pembangunan
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 climbed 17.60 points, or 0.5 percent, to 3,434.38, gaining for a fourth day.
PT Astra International (ASII IJ), Indonesia’s biggest automotive retailer, advanced 3.5 percent to 51,000 rupiah, its sharpest increase since Jan. 25. The nation’s January domestic vehicle sales rose to 73,849 units from 70,061 units in December and 52,831 units a year earlier, Astra said, citing data from the Indonesian automotive industries association.
PT Kimia Farma (KAEF IJ), a state-owned pharmaceutical company, jumped 12 percent to 149 rupiah, its steepest advance since April 2009. Kimia Farma plans to sell new shares in a rights offer next year to boost public ownership in the company, President Director Muhammad Sjamsul Arifin said.
PT Pembangunan Perumahan (PTPP IJ), a state-owned construction company, advanced 5.2 percent to 610 rupiah, the biggest gain since Jan. 12. Pembangunan plans to spin off its property division into a separate company this year and may sell a 30 percent to 40 percent stake in the unit in an initial public offering, Bisnis Indonesia reported, citing Musyanif, president director at the company. Musyanif couldn’t be reached when called at his office in Jakarta.
PT Timah (TINS IJ), Indonesia’s largest tin producer, fell 1.7 percent to 2,825 rupiah. Tin output from Indonesia, the world’s largest exporter, may drop for a second year as flooding caused by a La Nina weather event cuts the supply of ore, according to an industry executive from the top-producing region.
Refined-tin output may total 60,000 to 70,000 metric tons this year, Johan Murod, a director at PT Bangka Belitung Timah Sejahtera, a group of eight smelters, said in an interview.
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