Indonesia Stocks: Agung, Bank Tabungan Pensiunan, Medco Energi
Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in Jakarta.
The Jakarta Composite index (JCI) rose 4 points, or 0.1 percent, to 3,808.93, closing at a record.
PT Agung Podomoro Land (APLN IJ), Indonesia’s third-biggest property developer by revenue, gained 4.4 percent to 360 rupiah, the highest close since Feb. 21. The company reported an almost fivefold increase in first-quarter net income to 147.9 billion rupiah ($17.2 million).
PT Bank Tabungan Pensiunan Nasional (BTPN IJ), which specializes in pension loans, jumped 17 percent to 3,050 rupiah, the biggest gain since May 26. CIMB-GK Securities Pte. raised the stock’s rating to “outperform” from “neutral.” Bank Tabungan Pensiunan reported yesterday a 76 percent increase in first-quarter net income.
PT Indospring (INDS IJ), a manufacturer of leaf and coil springs for motor vehicles, surged 19 percent to 9,200 rupiah, the steepest increase since Nov. 24. The company said first- quarter net income more than doubled from a year ago to 35.4 billion rupiah.
PT Medco Energi Internasional (MEDC IJ), the nation’s biggest listed oil company, rose 1.9 percent to 2,750 rupiah. Crude oil for June delivery gained as much as 94 cents, or 0.8 percent, to $113.70 a barrel in electronic trading on the New York Mercantile Exchange, the highest since September 2008.
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