IDX lost 1.08% on profit taking
IDX composite index declined 1.08% today on negative regional sentiment, pressures on commodities and banking stocks. Nikkei regained grounds 1.22%. Shanghai also closed higher by 0.22%. But Hang Seng, Straits, BSE, and All Ordinaries declined substantially. Coal, plantation, and minerals were mainly under pressures as crude stays at US$78 per barrel.
Most of the blue chip stocks declined, led by three major banks---BCA, Mandiri, and BRI---which lost 3.47%, 3.09%, and 3.47% respectively. BNI and Danamon also declined 1% each, but BTN and BTPN gained 8.51% and 13.09%. BTN dominated the trading with over 157 million shares exchanged hands, followed by Mandiri (38.8 million shares). Some linked to the widespread ATM frauds, but others pointed to a delayed profit taking.
In the energy sector, PGN regained grounds with 0.67% gain, but coal stocks mainly declined, also on profit taking and sentiment on the commodities. ADRO, the largest coal company by market cap, ended lower by 0.51%, while BUMI declined 1.8%. Bukit Asam, which just signed coal pricing agreement with PT Indonesia Power, also declined 1.12%. Indo Tambangraya continued the correction with 2.2%.
Shenhua and China Coal also dropped by 3.94% and 3.44% respectively, while Xstrata, the world's largest thermal coal exporter, lost almost 3% in the morning session in London after a positive opening. BHP and Rio Tinto also declined 1.7% and 3.2% in Sidney, Australia. Straits Asia, which controls two coal mines in Indonesia (Jambayan and Sebuku), slashed 5.6% on SGX. (prepared by Teguh Hidayat)
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