Shares of cigarette maker HM Sampoerna (HMSP) declined 2.34% to Rp835 on Friday last week (March 15), to make market capitalization of Rp97.13 trillion. Its peer Gudang Garam (GGRM) also fell 2.13% to Rp19,500, valued at Rp37.52 trillion. Investors responded negatively a 10% hike on the excise tax for cigarette effective from January 1, 2024. To subscribe please click here
