Jakarta — Renewable energy stocks on the Indonesia Stock Exchange (IDX) closed mostly lower on Monday, June 23, with five stocks declining, one gaining, and two finishing flat. The Indonesian Composite Price Index (IDX Composite) closed lower by 1.74% to 6,787.14.
PT Pertamina Geothermal Energy Tbk (PGEO) was the hardest hit, falling 4.69% to 1,320 on the day’s highest transaction value of Rp 213 billion and volume exceeding 161 million shares. PT Barito Renewables Energy Tbk (BREN) followed with a 4.13% drop to 5,800, contributing Rp 86.1 billion in trade value.
Other notable losers included PT Arkora Hydro Tbk (ARKO), down 5.63% to 755, PT Kencana Energi Lestari Tbk (KEEN), which slipped 3.13% to 775, and PT Hero Global Investment Tbk (HGII), declining 3.68% to 157.
On the upside, PT Maharaksa Biru Energi Tbk (OASA) edged up 0.53% to 191, while PT Semacom Integrated Tbk (SEMA) and PT Terregra Asia Energy Tbk (TGRA) closed unchanged.
Investor sentiment remained subdued as key players PGEO and BREN extended their losses, dragging the sector into negative territory at the start of the week.
U.S. airstrikes on Iranian nuclear facilities over the weekend have rattled markets, with Brent crude briefly spiking about 5%, prompting immediate pressure on Asian equities. Major Asian benchmarks, including the MSCI Asia-Pacific and Japan’s Nikkei, slipped 0.5–1% as investors digested geopolitical risks. Concerns over supply chain disruptions and capital outflows are intensifying, Reuters reported. (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.
