JAKARTA (Yosefardi) – Investors focus buying on plantation stocks this morning along with broader market sentiment. Increase of CPO price in the future market also helped sentiment for the sector.
Substantial depreciation of rupiah might lead to overall improvement of plantation companies in the second half. Besides, crude palm oil (CPO) has gained more than 10% from its bottom few months ago. As most of their costs are quoted in rupiah, they might report better results in the second half.
BW Plantation jumped 6.32%, London Sumatra climbed 5.84%, and Salim Ivomas gained 6.85%. While Astra Agro increased 1.49%, Sampoerna Agro hiked 3.39%, and Gozco Plantations advanced 2.7%.