Astra, Lippo, International Nickel: Indonesia Equity Preview
Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.
The Jakarta Composite index (JCI) rose 1.1 percent to 3,675.38.
Metal producers: Tin for three-month delivery plunged 4.4 percent to $22,000 a metric ton in London yesterday, the most since Sept. 28. Nickel futures retreated 3.3 percent to $18,455 a ton. PT Timah (TINS IJ), Indonesia’s largest tin producer, rose 1.7 percent to 1,820 rupiah and PT International Nickel Indonesia (INCO IJ), the nation’s biggest producer of the metal, was unchanged at 3,175 rupiah.
PT Astra International (ASII IJ): Toyota Motor Corp. is investigating which car part supplies may be affected by the flooding in Thailand, Bisnis Indonesia reported, citing Joko Trisanyoto, marketing director at PT Toyota-Astra Motor. Astra, Indonesia’s biggest automotive retailer that sells Toyota cars, gained 3 percent to 67,900 rupiah.
PT Lippo Karawaci (LPKR IJ): The property developer said it plans to spend as much as 600 billion rupiah ($67.6 million) to buy back its shares over an 18-month period acn bbfter obtaining shareholders approval. Lippo will hold a shareholders meeting on Nov. 15, the company said in a statement published in Bisnis Indonesia today. Lippo was unchanged at 640 rupiah.
PT Nusantara Infrastructure (META IJ): The construction company is joining an 11.7 trillion rupiah tender to develop the Kalibaru container port in Tanjung Priok in Jakarta, Investor Daily Indonesia reported, citing Bernardus Djonoputro, managing director at Nusantara. The stock rose 0.5 percent to 194 rupiah.
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