Jakarta—Shares of renewable energy companies listed on the Indonesia Stock Exchange (IDX) closed broadly lower on Monday, March 24, with seven out of eight stocks in the red and only one posting a gain. The Indonesian Composite Price Index (IDX Composite) closed lower by 1.55% to 6,161.218.
PT Barito Renewables Energy Tbk (BREN) led the losses, plunging 8.79% to 5,450, followed by PT Arkora Hydro Tbk (ARKO), which fell 9.04% to 805. Other decliners included PT Hero Global Investment Tbk (HGII), down 4.65% to 164, PT Pertamina Geothermal Energy Tbk (PGEO), which dropped 2.55% to 765, and PT Maharaksa Biru Energi Tbk (OASA), which slipped 3.33% to 116.
PT Semacom Integrated Tbk (SEMA) and PT Terregra Asia Energy Tbk (TGRA) also declined, each shedding 1.20% and 2.86%, respectively.
The only gainer was PT Kencana Energi Lestari Tbk (KEEN), which rose 1.69% to 600.
BREN continued to dominate trading activity, with over 25 million shares being exchanged. The steep declines reflected a wave of profit-taking and broad investor caution across the sector. (nsh)
Disclaimer: The data analysis for this article was conducted with the assistance of OpenAI GPT-4o, while the final content was manually edited for accuracy and clarity.
