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Asia300

Indonesian consumer stocks sink as earnings disappoint

Weak performance 'brings up questions' about economy's health

JAKARTA -- Indonesia's retail and consumer stocks fell on Tuesday, after a string of lackluster second-quarter earnings reports raised fresh concerns about an economic slowdown.

Shares in Matahari Department Store, the country's largest department store operator, fell 10% to their lowest level in three and a half years. The previous day, the company had announced that same-store sales growth for the January-June period slowed to 8%, from 27% a year earlier.

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