Investors Dump Property Shares

JAKARTA (Yosefardi) – Property shares dropped substantially Monday (August 19) morning as investors continued to liquidate their portfolios.
Bekasi Fajar (BEST), an industrial estate developer, collapsed 7.7%, while residential property developer Bukit Sentul lost 7.3%.
Alam Sutera Realty (ASRI) also down 5% with over 63 million shares exchanged hands.
Lippo Karawaci, Modernland Realty, Pakuwon Jati, Ciputra Surya, Ciputra Development, and Bumi Serpong Damai were all down more than 5%.
With the correction, Bekasi Fajar has dropped 55% from its peak, while Alam Sutera down 35%.
Lippo Karawaci has also dropped 33% from peak, while Bumi Serpong Damai down 31%.