JAKARTA (Yosefardi) – Investors focused buying property stocks this morning, along with the broader market sentiment with 1.3% gain on composite index.
Alam Sutera surged 6.67%, followed by Agung Podomoro Land (5.45%), Bumi Serpong Damai (4.96%), and Ciputra Development (5.15%).
Ciputra Property also jumped 5.06%, Modernland Realty gained 2.9%, and Lippo Karawaci rose 1.87%.
Investors collected again property stocks as this sector valuation have been cheap after falling by up to 40-70% from their peaks year to date.
Broader market sentiment also helped by regional markets in the face of fresh evidence suggesting China could be emerging from an economic slowdown.