JAKARTA (Yosefardi) – Shares of property companies continued their corrections Monday (June 24) morning. Most shares were in red zone.
Alam Sutera (ASRI) lost 2.5% in the opening hour, while Sentul City fell almost 4%. Ciputra Property and Bumi Serpong Damai also down 2.5% and 1.7% respectively, while Intiland down 1%.
Modernland and Pakuwon Jati also lost 3% each, while Lippo Karawaci slipped 0.7% with substantial shares were exchanged hands.
Agung Podomoro, Summarecon Agung, and Surya Semesta Internusa, on the other hand, gained more than 1% each.
Property index of Indonesia Stock Exchange surged as high as 60% this year, but has retreated significantly in recent weeks on profit taking and broad market correction.