JAKARTA (Yosefardi) – Shares of PT Kawasan Industri Jababeka Tbk (KIJA) jumped 4% to Rp260 per share this morning, rebounded 18% from its bottom.
The stock however lost 35% from its peak year to date. KIJA reached Rp400 per share in Juni 2013.
Shares of property developers gained substantially after the Fed’s decision to delay scaling back the stimulus package as investors speculated on the return of hot money.
Today, most property stocks were in red along with broader market sentiment.
KIJA predicts its property business growth to slow by 10% in second half this year following the declining on stocks and rupiah performances.
KIJA is now studying to adopt cost efficiency on operation in responding the slowdown on business growth. (yohanneso@yosefardi.biz)