Jardine-linked stocks

Jardine-linked stocks: are lower, with Jardine C&C down 2.0% at $47.82, while Jardine Matheson is off 2.3% at US$58.01 and Jardine Strategic is off 1.3% at US$33.80. The declines may be related to a 5.1% fall in Astra. Market watchers note Astra is over 30% of the NAVs of JM and JS. Astra is responsible for over 90% of JC&C's profit. Nevertheless the declines in JM and JS aren't very large in context of their performance in recent months. A local fund manager in Indonesia says Astra is down on profit-taking, while another fund manager says there's speculation about the impact of rising minimum wages on Astra's costs, although since Astra already pays above minimum wage, he isn't sure of the exact impact.