JAKARTA (Yosefardi) – Property stocks lost ground this morning as selling pressures returned to the sector. Some stocks fell sharply by more than 7%.
Alam Sutera (ASRI) fell 7.3% in the morning session with over 55 million shares exchanged hands, while Bekasi Fajar collapsed 7% with over 28 million shares traded.
Property giants Bumi Serpong Damai and Lippo Karawaci lost 4.6% and 4.4% respectively with substantial volume, while Pikko Land collapsed 8% on thin trading volume.
Jababeka and Lippo Cikarang, both are industrial estate developers, also dropped 6% and 3.7%, while Surya Semesta Internusa down 2.86%.