JAKARTA (Yosefardi) – Investors continued to dump Bumi Resources (BUMI) shares. The stock lost further by 7.3% to the lowest level since the 2008 financial market collapse.
More than 58 million shares were traded in the first two hours of trading Wednesday (June 12) morning, while average daily trading volume in the past three months is 72.7 million shares.
BUMI had actually rallied from Rp600 in late 2012 to as high as Rp1,000 in February 2013, but has since steadily declined to Rp500 this morning.
London-listed Bumi Plc is the largest shareholder in BUMI. Berau Coal Energy (BRAU), majority owned by Bumi Plc, meanwhile, lost 5.8% this morning. Borneo Lumbung Energi (BORN), partner of Bakrie Group in Bumi Plc, also dropped 1.35% to its historical low.