IDX slips with commodities

IDX composite index closed lower by 0.34% today as coal and plantation stocks lost ground, surprisingly, when crude oil surged to above US$73 per barrel. 

Coal stocks closed lower led by Indika Energy's 2.11% drop, Adaro -1.64%, Bumi Resources -1.6%, Indo Tambangraya -1.2%, and Bukit Asam -0.43%. Their peers in the region closed mixed with Shenhua inched up 0.18%, BHP surged 2.4%, Rio Tinto +3.8%, while China Coal slips 1.2% and Straits Asia -0.6%.

Plantation stocks also closed mixed with Kulim, PPB, and IOI in higher grounds, while Astra Agro, Gozco, Sampoerna Agro, and Bakrie Sumatra lost ground. CPO futures contracts ease off to RM2226 per ton against RM2263 per ton yesterday in Malaysia Derivatives Exchange. 

Metals suffered significantly, led by Timah which dropped 6.9%, while Antam lost 1.2%. Financial stocks also closed lower, led by BRI which lost 4.6% and Mandiri by 1.6%. Bakrie-related stocks mainly lost ground, led by Bakrie & Brothers which dropped 4.3%.

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