Indonesia Stock Movers: Adaro Energy, Bumi Resources, Royal Oak
The Jakarta Composite Index (JCI) fell 0.5 percent to 3,984.90.
Coal stocks declined as investors “digest the news” that China, the world’s biggest consumer of the fuel, reduced its economic growth forecast to 7.5 percent, from an 8 percent goal in place since 2005, according to Frederick Daniel Tanggela, an analyst at PT Bahana Securities in Jakarta.
PT Royal Oak Development (RODA) , a property developer, jumped 12 percent to 275 rupiah, the highest close since April 15, 2002. The company acquired 60 percent of PT Megatama Karya Gemilang through an affiliated transaction, Royal Oak said.
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