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MARKET REVIEW
Blue chip stocks lifted IDX composite index by 1.67% to set a new record high. Positive regional sentiment also contributed substantially as crude oil eased off to US$74 per barrel, while crude palm oil advanced to RM2620 per ton. IDX has scored the best gain in major emerging market this year with 27%. ,Last Updated ( Mon, 06 Sep 2010)
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| Cornering DOID
Delta Dunia Makmur (DOID), parent company of mining contractor Bukit Makmur Mandiri Utama, declined 1.25% on Thursday to Rp790. That translates to 53.3% loss year-to-date. The stock collapsed almost 70% from the price paid by some investors to acquire DOID (and BUMA) last year. Why the stock keeps declining while its fundamentals improved? (Thu, 02 Sep 2010)
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| Adaro & BUMI Debts
In the past five years, banks boosted substantially their lending to Indonesian coal producers. Bumi Resources (BUMI) and Adaro Energy (ADRO) are currently the biggest debtors in the sector. Combined, coal companies listed on IDX might have withdrawn almost US$9 billion loans. (Thu, 02 Sep 2010)
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| More Articles |
| • IPO to Watch: Harum Energy | Stock Market | Coal producer PT Harum Energy Tbk has kicked off an initial public offering (IPO) of 650 million shares at price range of Rp5,000 - Rp6,300 per share. The company expects to raise between Rp3.25 trillion and Rp4.09 trillion from the IPO, valuing the company in the range of Rp13.5 trillion and Rp17 trillion. Too pricey? | |
| • China Correction: Commodities (VIII) | Stock Market | Crude oil fell as much as 3% to US$72 per barrel on New York Mercantile Exchange (Nymex) Tuesday due to the global stock market slump. Energy stocks closed mixed. Thermal coal shipment from Australia's Newcastle, the world's biggest export port, fell 11.5% last week. China's import of coal declined 5.9% last month, and might decline further in the coming months. | |
| • Bumi Resources: New Acrobats | Stock Market | PT Bumi Resources (BUMI) Tbk has just released its financial statement with limited review from its auditor. Reading through the report, you will learn new acrobats from the debt-ridden company. The most obvious is clearly an amendment of a divestment which resulted in an increased "gain" of US$171 million, more than enough to prevent a net loss report in the first half. | |
| • Market Review | Stock Market | Composite index of Indonesia Stock Exchange (IDX) closed lower by 0.57%, dragged down mainly by blue chip stocks and regional sentiment from the falling Nikkei 225 (-3.5%). Dow Jones Industrial Average (DJIA) and Nasdaq Composite, meanwhile, opened slightly higher in New York. | |
| • Factors to Watch | Stock Market | Wall Street and European markets regained grounds last Friday (Aug 27). Crude oil also surged 3% to close at US$75.17 per barrel. Thermal coal prices in Newcastle Port, Australia also soared. One might say things are going north. But others still doubt the sustainability. | |
| • Bakrie "Yo-Yo" Stocks (3) | Stock Market | Bakrie-related stocks were tracking the broad market correction on Friday (Aug 27). Bakrie & Brothers (BNBR) dropped 3.85% to return to the lowest quoted price allowed on Indonesia Stock Exchange (IDX), while Bumi Resources slashed 5.06%. The stocks had the yo-yo movements in the past few trading days. Lack of interest? | |
| • Factors to Watch | Stock Market | Dow Jones Industrial Average (DJIA) declined further by 0.74% on Thursday to close below 10,000 on economic worries, while crude oil lifted to above US$73 per barrel on weakened US dollar. Nasdaq and the broader S&P 500 indexes also closed lower by 1.07% and 0.77% respectively. | |
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