Bakrie stocks lost ground

Bakrie Group-related stocks lost ground this morning. Bumi Resources dropped another 3.33%, while Bakrieland an Energi Mega Persada slashed 6.4% and 5.33% respectively.

Bakrie & Brothers, Bakrie Telecom, Darma Henwa, and Bakrie Sumatra Plantations also declined 3.7%, 2.9%, 3.5%, and 2% respectively.

They sent IDX composite index back to negative territory (-0.4%) this morning while other markets in the region mainly regained grounds. Looks like pressures on coal stocks continued with INDY and ADRO declined 1% and 0.6% respectively, while their peers in the region opened higher, led by Shenhua's 3.9% gain and China Coal's 3.21%. Xstrata also closed higher by 1.51% in London yesterday, while US-listed coal stocks closed mixed.

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