JAKARTA (Yosefardi) – Investors focus buying in shares of coal producers though Moody’s rating agency warns about the liquidity concern and financial stress for coal producers in Asia Pacific region.
Bumi Resources Minerals and Borneo Lumbung gained over 4%, Berau Coal rose 2%, Delta Dunia increased 3.09%, and Harum Energy inched up 0.8%.
Bumi Resources also regained 1% after 2% fall in opening trade. While Adaro Energy lost 2.15%.
Moody’s Investors Service says excess coal supplies and continued weak prices for the commodity over the next 12-18 months, will cause significant financial stress on the least liquid coal producers in Asia Pacific, increasing their risk of default.