JAKARTA (Yosefardi) – Shares of property developer PT Bumi Serpong Damai dropped 7.3% to Rp1335 this morning with over 16.73 million shares exchange hands.
The stock had fallen 39% from its peak of Rp2,200 in May 31, 2013, but regained 10.7% from its bottom at January 7, 2014.
Other property stocks also fell. Pakuwon Jati declined 2.28%, Agung Podomoro lost 3.88%, Alam Sutera dropped 4.5%, Sentul City shed 4.24%, Lippo Karawaci lost 4.08%, and Ciputra Development fell 4.6%.
The property industry is expected to grow slowly this year, by 5-10%, as many developers would take a wait and see stance until the result of election.