JAKARTA (Yosefardi) – Property shares, top gainer of the year, continued their substantial correction Wednesday (July 3rd) as Summarecon Agung and Lippo Karawaci dropped more than 5% each.
Summarecon lost 5.9%, while Lippo Karawaci down 5.37%. More than 31 million shares of Lippo Karawaci were exchanged hands in the first two hours of trading.
Alam Sutera Realty also lost 2.74% with over 45 million shares exchanged hands, while Bekasi Fajar (BEST) collapsed 5.2%. Ciputra Development, Ciputra Property, and Ciputra Surya lost more than 3% each.
Almost all property shares have dropped more than 20% on average from their respective peak on profit taking and broad market sentiment.