JAKARTA (Yosefardi) – Shares of coal producer Bumi Resources and Berau Coal Energy gained substantially Tuesday (May 21) on bargain hunting and speculative buy.
Bumi Resources (BUMI) gained 8.57% to Rp760 with over 156 million shares exchanged hands, while Berau Coal Energy (BRAU) jumped 12.2% with 86 million shares exchanged hands.
London-listed Bumi Plc owns 29% shares in BUMI and 85% shares in BRAU. Bumi Plc trading has been suspended since last month pending release of BRAU’s financial statement for 2012.
BUMI’s subsidiary Bumi Resources Minerals also advanced 4.35%, while Bakrie Sumatra Plantations and Bakrieland gained 3.5% and 3.92% respectively. Bakrie-controlled Energi Mega Persada also advanced 2.19% with 667 million shares exchanged hands.