JAKARTA.The price of PT Timah Tbk (TINS)'s shares dropped by 14.2% since yesterday due to negative sentiment and illegal tin mining.
According to data compiled by Idnfinancials, the stock price of TINS has been at its lowest level of Rp. 1,355 per share at 1:45 p.m. WIB on Thursday (28/2). In fact, at the end of yesterday's trade, the price of TINS shares was still at the level of Rp 1,580 per share.
The price movement makes the TINS shares become the most traded shares, with a frequency of 13,752 times. Nevertheless, TINS 'share price still increased by 14.83% year-to-date, from the level of Rp. 1,180 to Rp. 1,355.
Previously, TINS shares were reportedly affected by negative sentiments from the market regarding illegal tin mining activities. In addition, tin exports from Indonesia also declined in last November to December 2018, despite the fact that the price of tin in the global market is US$ 20,950 per tonnes, increased by 9.7%. (KR/AR)