Jakarta—Renewable energy stocks listed on the Indonesia Stock Exchange (IDX) surged on Thursday, April 10, reversing the previous days’ losses as investor sentiment strengthened across the board. Six stocks closed higher, one remained unchanged, and none declined. The Indonesian Composite Price Index (IDX Composite) closed higher by 4.89% to 6,260.088.
Leading the rally, PT Barito Renewables Energy Tbk (BREN) soared 17.65% to 5,000, while PT Hero Global Investment Tbk (HGII) jumped 13.61% to 167. PT Maharaksa Biru Energi Tbk (OASA) rebounded sharply, gaining 11.65% to 115.
Other notable gainers included PT Pertamina Geothermal Energy Tbk (PGEO), which climbed 4.55% to 805, PT Arkora Hydro Tbk (ARKO) up 1.23% to 825, and PT Semacom Integrated Tbk (SEMA), which rose 3.85% to 81.
PT Kencana Energi Lestari Tbk (KEEN) remained unchanged at 650, while PT Terregra Asia Energy Tbk (TGRA) gained 6.45% to 33.
Trading activity remained strong, with BREN and OASA recording the highest volumes. The upbeat session reflected a broad recovery in investor confidence following a volatile start to the week.
Compared to the previous trading session on April 9, Thursday’s performance marked a strong rebound across the renewable energy sector when six of the eight monitored stocks had declined, with BREN plunging by 490 points and OASA dropping by 12 points.
However, both stocks reversed course Thursday with BREN surging by 750 points and OASA recovering those 12 points to close at 115. Similarly, after a modest increase on Wednesday, HGII bounced back with a 20-point gain. The overall shift from a predominantly bearish to a bullish tone suggests renewed investor optimism and bargain hunting after the sharp sell-offs earlier in the week.
Trading volume remained robust across the board, with PT Barito Renewables Energy Tbk (BREN) leading at over 32.8 million shares exchanged, followed by PT Maharaksa Biru Energi Tbk (OASA) with nearly 249 million shares traded. The heightened activity reflects strong investor interest and momentum-driven buying, especially in stocks that had experienced sharp declines earlier in the week. (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.
