Bakrie stocks fall
Global and regional market pressures, combined with negative sentiment on commodities following the fall of crude oil to about US$75 per barrel, hit Bakrie-related stocks. Bumi Resources, the most traded stock on IDX, slashed 5.5% this morning, while Bakrieland's plan for a new deal with Limitless (Dubai World) failed to stop the stock from falling almost 6%. Bakrie Sumatra Plantation also lost almost 5% this morning.
Bumi Resources (BUMI) is under selling pressures with over 200 million shares traded so far this morning. All coal stocks in the region dropped substantially. Shenhua lost 4.81% in Hong Kong, Adaro -2.6% in Jakarta, and BHP declined 2.8% in Sidney. Indika, Indo Tambangraya, Bukit Asam, Straits Asia, and Rio Tinto are all in negative territory.
The crude oil's fall also hit oil and gas stocks. Medco lost 3%, while Bakrie's Energi Mega Persada declined 0.6%. CNOOC and Petrochina slashed 3.72% and 1.63% in Hong Kong, while Woodside and PGN lost 2.53% and 1.33% respectively.
Plantation stocks also lost ground, led by those listed on SGX (Indofood Agri and Golden Agri conceded 4.9% and 4.5% respectively), while Bakrie Sumatra, Sampoerna Agro, and Astra Agro Lestari declined 4.8%, 1.72%, and 1.41% respectively in Jakarta.
BCA, the third largest company on IDX by market cap, lost 2%, while Mandiri and BRI conceded 2.13% and 1.27%. Danamon led the downfall with -4.67%. Telkom, the largest company by market cap, also dropped 2.12%.
IDX composite index declined as much as 2%, while rupiah lost 100 points against USD.