JAKARTA (Yosefardi) – Investors opted to lock in profit in banking stocks after one hour of trading this morning. As a result, the composit index of the Indonesia Stock Exchange (IDX) only gained 0.54%, compared to 1.42% gain in opening trade.
At 10.16 am Jakarta time, Bank Mandiri gained 2.27% and Bank Negara Indonesia rose 0.24%. In opening trade, Bank Mandiri jumped 5.4% and Bank Negara Indonesia surged 4.38%.
While Bank Central Asia gained 2.04%, Bank Rakyat Indonesia increased 0.3%, and Bank Tabungan Negara rose 0.55%.
Bank Rakyat Indonesia is reported to book net profit of Rp21.3 trillion in 2013, grew by 12-15% compared to 2012. Media also reported Bank Mandiri’s net profit grew by more than 10% last year, or Rp17.05 trillion, compared to Rp15.5 trillion in 2012. While Bank Negara Indonesia is reported to book net profit of Rp7.4 trillion in 2013.