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Indonesia Stocks Drop Midday Wednesday
Jakarta Globe | January 25, 2012

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Indonesian stocks fell for a second time in three days on Wednesday, heading toward a one-week low. The benchmark Jakarta Composite Index dropped 25.08, or 0.6 percent, to 3,969.50 at the midday break.

Unilever Indonesia, Bank Rakyat Indonesia and Astra International led declines. About three shares fell for every two that rose on the Indonesia Stock Exchange.

Kertas Basuki Rachmat Indonesia, a paper producer, jumped 25 percent to 66 rupiah, set for the steepest increase since June 1, 2010. The shares rose amid speculation Kertas plans to diversify its business to run fuel stations, Edwin Sebayang, an analyst at MNC Securities, said. Kertas has no plans to enter the fuel station business, corporate secretary Tiur Simamora said by telephone.

Additional reporting by Bloomberg