Jakarta—Renewable energy stocks on the Indonesia Stock Exchange (IDX) mainly closed lower on Friday, May 16, with six stocks declining, one advancing, and one finishing flat. The Indonesian Composite Price Index (IDX Composite) closed higher by 0.68% to 7,087.728.
PT Pertamina Geothermal Energy Tbk (PGEO) was the standout performer, surging 10.77% to 1,080 on heavy volume of over 46 million shares, contributing more than Rp 473 billion in transaction value—the day’s highest.
In contrast, PT Barito Renewables Energy Tbk (BREN) edged up only 0.41% to 6,200, while PT Hero Global Investment Tbk (HGII) remained unchanged at 178.
Decliners included PT Arkora Hydro Tbk (ARKO) down 0.56%, PT Kencana Energi Lestari Tbk (KEEN) off 1.16%, and PT Maharaksa Biru Energi Tbk (OASA) slipping 1.48% to 133. PT Semacom Integrated Tbk (SEMA) and PT Terregra Asia Energy Tbk (TGRA) also dropped 1.15% and 5.26%, respectively.
OASA led in trading volume with over 142 million shares exchanged, indicating ongoing speculative interest. Despite PGEO’s strong rally, the broader sector saw modest declines ahead of the weekend. (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.
