JAKARTA (Yosefardi) – Shares of coal producers were buried deeper this morning. Second largest coal producer Adaro Energy fell 4.4% to its new low, while largest coal producer Bumi Resources slipped 2%.
Indo Tambangraya Megah, controlled by Banpu Plc, dropped as much as 5%, while state-owned Bukit Asam declined further by 2.64%.
Indika also down 2%, while subsidiary Petrosea lost 2.27%. Petrosea’s competitor Delta Dunia (DOID), parent of BUMA, also lost 1.18%. United Tractors, parent of Pamapersada, also slipped 0.6%.
They were not alone. Rio Tinto and Whitehaven Coal lost 1.7% and 2% respectively in Sydney, while China Shenhua slipped 0.59%. BHP Billiton also lost 1.57% in Sydney, while Borneo Lumbung down further by 1.27% in Jakarta.