JAKARTA (Yosefardi) – Mining stocks fell on Tuesday (Sept 10), while broader market gained, as investors opted to lock in profits after recent gains.
Timah lost 10.58%, Vale Indonesia dropped 10.58%, Aneka Tambang fell 6.76% and Medco Energy declined 4.24%, While Energy Mega Persada gained 3.53%.
Among coal stocks Indika Energy shed 8.97%, Borneo Lumbung slided 6.12%, Adaro Energy dropped 9.9%, and Bukit Asam lost 9.68%. Berau Coal declined 1.85% while Bumi Resources closed unchanged.
Nymex’s crude oil declined 0.89% to US$108.54 per barrel. Crude oil price slipped on Tuesday helped by receding expectations of US-led military action against Syria.