JAKARTA (Yosefardi) – Investors sold off local stocks this morning trade as oil price slid to below US$56 per barrel. The rupiah also fell further to approach Rp13,000 against the US dollar.
Along with the broader market sell-off, investors opted to focus selling property developer PT Alam Sutera Realty Tbk (ASRI), leading the stock to fall by 10.9% to Rp499, with over 66 million shares exchanged hands.
ASRI posted net profit of Rp890 billion in first nine months of 2014, grew by 1.6% from Rp876 billion in the same period of 2013. Revenue declined 7% to Rp2.8 trillion from previous Rp3.04 trillion.
Its assets totaled Rp16.3 trillion while liability amounted Rp10.26 trillion. The company has cash and cash equivalent of Rp1.05 trillion.
Other property stocks, Jababeka dropped 7.9%, Pakuwon Jati lost 7.2%, Ciputra Development shed 5.28%, Lippo Karawaci fell 4.67%, Delta Dunia slashed 7.26%, Agung Podomoro declined 3.25%, and Bumi Serpong Damai lost 3.83%.