JAKARTA (Yosefardi) – Bank Tabungan Negara (BBTN) dropped 7.5% furhter to Rp980 per share this afternoon trade with over 15 million shares exchanged hands.
Investors were selling BTN for last 4 trading days after the stock reached Rp1,150 per share on September 20 last week.
BTN has rebounded 15% from its bottom but still lost 42% from its peak year to date.
Other banking stocks were also in red; Bank Rakyat Indonesia (-3.85%), Bank Mandiri (-2.9%), Bank Negara Indonesia (-1.76%), Bank Central Asia (-0.48%), Bank Panin (-1.56%), and Bank Bukopin (-.08%).
Investors concern on expected high inflation and cost of fund, which would pressure the banks’ net interest margin, instead they have intentions to increase loan interest.