Shares of coal producer PT Resource Alam Indonesia Tbk (KKGI) advanced 5.26% this morning as investors responded positively a contract between PT Insani Baraperkasa (IBP), subsidiary of KKGI, and PT Bukit Makmur Mandiri Utama (BUMA), subsidiary of Delta Dunia Makmur (DOID), for the development of IBP’s coal concession in Kutai Kartanegara regency, East Kalimantan province.
Read MoreShares of coal producers were mostly higher grounds in the region this morning on strong thermal coal price. Indonesian government, meanwhile, has set reference price of thermal coal for January 2018 at US$95.54 per ton (FOB, calories of 6322 Kcal/Kg, sulphur 0.8%, and moisture 8%), an increase of 10.8% year-on-year.
Read MoreThe stock market and the rupiah extended corrections on Wednesday (Sept 14) as investors’ perception over the Fed rate policy continued to weigh on. Rupiah weakened further to Rp13,228 against the U.S. dollar yesterday while the composite index of the Indonesia Stock Exchange (IDX) dropped 1.3% to close at 5,146. Trading value for stocks yesterday reached Rp7 trillion with foreign investors’ net sell amounting Rp841 billion, cutting year-to-date net buy to Rp35.35 trillion.
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