Monday, July 13, 2009

Commodities stocks lost ground

Commodities stocks all around the region lost ground this morning. BHP opened higher, but then dropped. Shenhua lost 3.64% in Hong Kong, while Indika slashed 3.23% in Jakarta. Golden Agri lost 4.8% in Singapore, Bakrie Sumatra dropped 7.81% in Jakarta. 
Coal, oil and gas, plantations, and metals pushed IDX composite index to a lower level this morning and touched 2031 (-1.54%) as other markets in the region were mainly in negative territory. South Korea's KOSPI lost 2.16%, while Nikkei slips 1%, and Hang Seng slashed 1.92%.
BUMI dropped 2.8%, Bayan -3.8%, Indika and Indo Tambangraya -3%, Bukit Asam -1.8%, while BHP and Rio Tinto declined 0.6% and 3% respectively in Australia. Adaro and Straits Asia lost 1.8% and 1.2% respectively.
Plantation stocks in Indonesia and SIngapore were mainly in negative territory. Astra Agro, London Sumatra, Sampoerna Agro, and Bakrie Sumatra dropped 3.3%, 2.8%, 3.11%, and 7.81% respectively.
In the oil and gas sector, PGN dropped 3.62%, while Elnusa -4.62%, Energi Mega Persada -4.35%, and Medco -1.7%. Santos and Woodside also dropped in Australia, while Petrochina and CNOOC lost 2.52% and 1.8% respectively in Hong Kong.
Metals? Timah lost 4.3%, Aneka Tambang -2.6%, and INCO -3.3% to tracking their peers in the region.
Bakrie-related stocks were all in negative territory this morning. Bakrie & Brothers lost 3.3%, Bakrie Telecom -3%, Darma Henwa -2%, and Bakrieland -4.8%.  




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