Indonesia Stock Movers: Medco Energi Internasional, Wijaya Karya
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 (JCI) fell 6.75 points, or 0.2 percent, to 3,953.28, declining for the first time in five days.
Oil companies: PT Medco Energi Internasional (MEDC IJ), the nation’s biggest listed oil company, fell 2.9 percent to 2,525 rupiah and PT Energi Mega Persada (ENRG IJ), the second-largest, dropped 4.8 percent to 200 rupiah. Crude for September delivery fell 1.2 percent to $86.86 a barrel in New York.
PT Timah (TINS IJ), Indonesia’s largest tin producer, declined 2.2 percent to 2,275 rupiah. Tin futures fell as much as 2.5 percent to $23,850 a metric ton in London, extending yesterday’s 1 percent slide.
PT Wijaya Karya (WIKA IJ), a state-owned construction company, climbed 1.6 percent to 620 rupiah. Wijaya Karya received a 500 billion rupiah ($58.6 million) loan from IKB Deutsche Industriebank AG which will be used to finance the construction of a power plant in Bali, Investor Daily Indonesia reported, citing Wijaya Corporate Secretary Natal Argawan. A call to the company’s office in Jakarta wasn’t answered.
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