JAKARTA (Yosefardi) – Shares of integrated agriculture company Charoen Pokphand Indonesia (CPIN) soared 13.3% to Rp3,400 per share ahead of market close on technical buying.
The stock had fallen 38% from its peak year to date. Rupiah weakening also dragged CPIN shares recently. Depreciation of rupiah would clearly boost its raw material costs.
Its peers Japfa Comfeed also gained 5.26% to Rp1,200, losing 42% from peak year to date. While Malindo Feedmill surged 6% to Rp3,075. The stock had fallen 25% from its peak year to date.