Jakarta—Shares of renewable energy companies listed on the Indonesia Stock Exchange (IDX) fell sharply on Tuesday, April 8, with all eight monitored stocks closing in the red amid widespread investor sell-offs. The Indonesian Composite Price Index (IDX Composite) closed lower by 7.98% to 5,991.095 on the first trading day after a long break for Eid celebrations.
PT Barito Renewables Energy Tbk (BREN) led the losses, tumbling 13.82% to 4,740, followed by PT Hero Global Investment Tbk (HGII), which dropped 11.52% to 146, and PT Maharaksa Biru Energi Tbk (OASA), which declined 9.45% to 115.
Other notable losers included PT Arkora Hydro Tbk (ARKO), which fell 4.60% to 830, PT Kencana Energi Lestari Tbk (KEEN), down 6.47% to 650, and PT Pertamina Geothermal Energy Tbk (PGEO), which slipped 4.97% to 765.
PT Semacom Integrated Tbk (SEMA) and PT Terregra Asia Energy Tbk (TGRA) also closed lower, declining 7.32% to 76 and 3.03% to 32, respectively.
Trading was dominated by BREN, with over 23 million shares exchanged. The steep, broad-based declines reflected heightened market anxiety and bearish sentiment 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.
