Coal miner Adaro falls as crude oil slumps

PT Adaro Energy fell the most in two weeks in Jakarta trading after crude oil slumped for a second day in New York, cutting the revenue outlook of Indonesia’s biggest coal company by market value. A lower oil price reduces the appeal for alternative fuel such as coal.

Adaro dropped 2.4 per cent to 2,000 rupiah as of 1:48 p.m. Jakarta time, its biggest tumble since June 29.