Pulp and paper producers are clear winners of the year, so far. Shares of PT Fajar Surya Wisesa (FASW) Tbk, for example, have gained nearly 100% in the past 12 months. Indah Kiat (INKP) and Tjiwi Kimia (TKIM), meanwhile, have skyrocketed 623% and 1,091% respectively in the same period. Apparently, these companies reported strong financial performance in the first half.
Read MorePulp and paper producer PT Indah Kiat Pulp & Paper (INKP) Tbk, controlled by Sinarmas Group, is among the best performing stocks with 168% gain year-to-date. At the current price, Indah Kiat has market capitalization of Rp79 trillion or 1.7 x equity (US$3.37 billion by March 31, 2018).
Read MoreTrading in stocks fluctuated on Wednesday (Nov 23) and late buying helped the composite index of the Indonesia Stock Exchange (IDX) to gain 0.14% at market close (5212). The index moved in red zone during the day although Finance Minister Sri Mulyani Indrawati was invited to ensure investors of Indonesia’s good economic prospects amid current global slowdown.
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