MNC Stock Price Rebounds; VIVA Still Falling
15 July 2014 15:46 WIB
TEMPO.CO, Jakarta - The stock price of PT Media Nusantara Citra Tbk (IDX: MNCN) yesterday began to strengthen after plunging Thursday last week. Trust Securities, chief researcher Reza Priyambada said MNCN rose from an opening price of Rp2,655 per share toRp 2,660 per share.
Its competitor PT Visi Media Asia Tbk (VIVA), however, experienced otherwise. Since July 10 until yesterday, VIVA's price continued to decline, opening at Rp237 per share and falling to Rp226 per share at midday, falling 3.4 percent Friday's close.
"Investors' trust in VIVA still has not recovered. But fundamentally, VIVA is still a good [stock]," Reza told Tempo yesterday.
The stock prices media issuers Viva Group and MNC Group plunged on Thursday last week. Analysts said the decline was because investors lost confidence in both companies' media outlets—whose quick count results showed Prabowo's victory whilst the majority of pollsters were showing that Jokowi had the lead.
The market believes that both companies are being impartial in covering the election. MNC Group owner Hary Tanoesudibjo and Viva helm Aburizal Bakrie are known to be supporters of candidate number one, Prabowo Subianto and atta Rajasa.
DEWI SUCI RAHAYU | MOYANG KASIH DEWIMERDEKA | HERMAWAN SETYANTO
