Market Today: SOEs Batter The Bakries, for How Long?

Daily stock transactions in Indonesia market today was dominated by state owned enterprises (SOEs), consisting of 12 publisly listed companies led by PT Telekomunikasi Indonesia Tbk (TLKM).
Domination of seven firms, which are controlled by Aburizal Bakrie family, Chairman of Golkar Party, dubbed The Bakries, were crippled by SEOs.
SOEs took Rp1.01 trillion in stock trading today, counting 23.45% of the country's total transaction of Rp4.32 trillion. The biggest contributor remained TLKM, nation's largest telephone operator, with its daily trading of Rp266.08 billion. TLKM's stock closed 3.55% lower to Rp9,500 from its opening of Rp9,850, hit by negative effect of prolonged PT Bank Century Tbk case.
Following TLKM, PT Bank Mandiri Tbk (BMRI) made second biggest contributor with today's transaction of Rp187.81 billion, while PT Bank Rakyat Indonesia Tbk (BBRI) ranked third.
The Bakries, which reigned in the whole Indonesia market last week, grabbed daily transaction value of Rp872.32 billion or 20.17% of the market value. Still, PT Bumi Resources Tbk (BUMI) ranked top with daily value of Rp728.02 billion. BUMI downed 6.66% from opening level of Rp2,250 to closing price of Rp2,100 per share. Tax dispute between BUMI and Tax Directorate General is creating negative impact for the company's shares.
Astra Group, consisting of five companies led by PT Astra International Tbk (ASII), booked total daily turnover of Rp229.01 billion or 5.29% of Indonesia stock market transaction today. ASII contributed the biggest for its group with trading value of Rp110.29 billion. PT United Tractors Tbk (UNTR) ranked two with its daily value of Rp99.63 billion.
Salim Group, which is controlled by Anthoni Salim, ranked fourth with today's transaction of Rp147.3 billion or 3.41% of Indonesia stock market. PT Indofood Sukses Makmur Tbk (INDF) and PT PP London Sumatra Indonesia Tbk (LSIP) were main players for Salim Group. Sinar Mas Group still in the fifth position by posting today's transaction of Rp13.88 billion or 0.32% of Indonesia stock market.