JAKARTA (Yosefardi) – Shares of feed producer PT Japfa Comfeed Tbk (JPFA) soared further by 12.2% to Rp1,470 per share in afternoon trade after making a flat movement in morning trade. Over 15 million shares were exchanged hands.
The stock surged 9.17% to Rp1,310 on late buying Thursday (Sept 12) as BI Rate hike is believed to help protecting rupiah from further weakening against the US Dollar.
The stock had fallen more than 31% from its peak since March after spliting its stocks.
While its peers Charoen Pokphand Indonesia (CPIN) gained 3.4% to Rp3,775 and Malindo Feedmail rose 2.3%. CPIN has lost 34% from its peak year to date while Malindo has fallen 20% from its peak year to date.