JAKARTA (Yosefardi) – Property stocks continued their correction Tuesday (June 4th). Ciputra Development leads with 6% fall, while Bekasi Fajar lost 5.75%.
Trading of property stocks was heavy. More than 147 million shares of Alam Sutera (ASRI) were exhanged hands as the stock declined 4.9%. Bumi Serpong Damai also slipped 1% with over 83 million shares traded by midday.
Agung Podomoro, Duta Anggada Realty, Jababeka, and Pakuwon Jati were also in red. Giant Lippo Karawaci also declined further by 2.79%, while sister Lippo Cikarang lost 3.7%.
Summarecon Agung and Agung Podomoro lost 3.81% and 1%. Property stocks, however, have gained substantially this year.