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Cigarette Stocks in IDX Falls to the Red Zone

Translator

Editor

23 August 2016 15:34 WIB

A man uses a mobile device in front of an electronic board showing the stock market index at the Indonesia Stock Exchange (IDX) in Jakarta, February 2, 2016. REUTERS/Beawiharta

TEMPO.CO, Jakarta - A number of cigarette stocks in the IDX has fallen to the red zone. HM Sampoerna dropped 20 points or 0.5 percent and Gudang Garam dropped 700 points or 1.64 percent.

IDX Director Tito Sulistio said that the notion of cigarette price hike has cast negative impression for investors. "They worry if the notion will come true," he said. But he is more concerned if the notion will lower the price of the substitution and complementary goods. 

Previously, Finance Minister Sri Mulyani Indrawati has responded to the notion of cigarette price hike. She said that she does not plan to realize it. She added that there are still other better measures to improve state revenue, instead of taking the extreme price hike.

DESTRIANITA

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