Investors sold off further cement shares on Monday (Jan 19) after Friday’s selloff following the government’s announcement of price cut by Rp3000/bag of cement produced by state cement maker PT Semen Indonesia Tbk (SMGR). Some investors read this as a sign that the government might return to price administration of cement like during Soeharto years, when we had the so-called Harga Patokan Semen (HPS) or Cement Reference Price.
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