JAKARTA (Yosefardi) – Shares of companies controlled by Lippo Group continued their correction Friday (June 7) morning.
Matahari Department Stores, which gained 400% in the past few months, retreated 4.8% to Rp11,900. Lippo Karawaci also lost 2.26% with over 36 million shares exchanged hands.
Lippo Cikarang, Matahari Putra Prima, Bank Nationalnobu, Lippo Securities, Multipolar, and Star Pacific were also in red in the first hour of trading on IDX.
Lippo Group was not alone. Shares of companies controlled by MNC Group were also in red. Indonesia Air Transport lost 4% in the opening hour, while Global Mediacom down 1%. MNCN, MNC Land, and MNC Kapital and MSKY were also in negative territory, while Bhakti Investama gained 2%.