JAKARTA (Yosefardi) – Shares of Indonesian retail giants followed broad market correction Tuesday (June 11) with Ace Hardware falling 7.14%, while Matahari Department Stores lost 3.5% in the morning session.
More than 26 million shares of Ace Hardware (ACES) were exchanged hands as the stock lost 7.14% to Rp780. Matahari Department Stores, controlled by CVC-Lippo Group, also conceded 3.5% to Rp11,050.
Erajaya, Trikomsel, and Tiphone—all of them are ICT retailers—also lost ground.
Ramayana Lestari (RALS) lost 2.7% with 10 million shares exchanged hands, while Matahari Putra Prima, also controlled by Lippo Group, down 1%.