Jakarta — Indonesian renewable energy stocks ended the week with mixed performances as heavy swings in Barito Renewables Energy (BREN) and Arkora Hydro (ARKO) set the tone for a volatile market.
Barito Renewables (BREN) led trading activity, with a weekly volume exceeding 158 million shares and transaction values surpassing IDR 1.89 trillion. The stock opened the week at IDR 9,025 and closed at IDR 9,550 on Friday, up 5.8 per cent. BREN’s sharpest move came midweek when it dipped to IDR 9,150 on Wednesday before rebounding strongly by the week’s end.
Arkora Hydro (ARKO) faced a turbulent week, starting Monday at IDR 1,620 and falling to IDR 1,550 by Friday, a 4.3 per cent decline. The stock reached its peak at IDR 1,650 on Tuesday before retreating, with total weekly trading volume at just over 6 million shares.
Pertamina Geothermal Energy (PGEO) showed resilience after midweek losses, recovering from a low of IDR 1,355 on Thursday to close at IDR 1,400, gaining 4.1 per cent over the week. PGEO remained one of the most liquid counters, with more than 260 million shares traded.
Hero Global Investment (HGII) saw fluctuations, climbing as high as IDR 162 midweek before slipping back to IDR 158, a 6.8 per cent gain from Monday’s open at IDR 148. Kencana Energi Lestari (KEEN) was relatively stable, ending Friday at IDR 955, slightly below its Monday level of IDR 980, despite solid volumes exceeding 16 million shares.
Meanwhile, Maharaksa Biru Energi (OASA) emerged as a steady gainer, closing at IDR 250 on Friday compared to Monday’s IDR 228, marking a 9.6 per cent weekly increase. The stock was also among the most heavily traded, with a cumulative volume of over 980 million shares across the week. Semacom Integrated (SEMA) slipped 3 per cent to IDR 98, while Terregra Asia Energy (TGRA) remained stagnant at IDR 27 with no trades.
Market analysts noted that investor sentiment shifted rapidly through the week, with strong rebounds in BREN, OASA, and PGEO contrasting with declines in ARKO and SEMA. They expect near-term momentum to hinge on sector policy updates and earnings announcements due later this month. (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.
