Jakarta—Shares of PT Barito Renewables Tbk (BREN) rebounded on Tuesday, October 22, significantly strengthening 8.54% at the close of trading to 7,625. BREN shares were also among the top gainers that helped boost the IDX Composite until it finally closed in the green zone or rose 0.21% to 7,788.98.
Based on data from the Indonesia Stock Exchange (IDX), BREN shares were consistently in the green zone throughout trading Tuesday, with a range of levels from 7,050 to 7,625. Tuesday’s strengthening also made BREN shares record a strengthening of 2.01% year-to-date.
The increase in BREN shares on Tuesday also caused the issuer of the PT Barito Pacific Tbk (BRPT) business group to again record a market capitalisation value of Rp1,020.12 trillion.
BREN shares rallied following the news that the world’s largest asset management company, Blackrock, increased the weight from 0.64% to 1.36% for its Exchange Traded Fund (ETF) products, namely the iShares Global Clean Energy ETF (ICLN) and the iShares Global Clean Energy UCITS ETF (INRG).
The increase was announced by Blackrock on Friday, October 18, last week.
ETF is an investment instrument with the same principle as mutual funds but with a smaller, more measurable risk. (hs)
