Jakarta — Indonesia’s renewable energy stocks ended the week on a volatile note, with Arkora Hydro Tbk. (ARKO) delivering standout gains while several peers faced downward pressure.
ARKO surged 26.7 per cent over the week, jumping from IDR 1,460 on Monday to IDR 1,850 by Friday. The rally was particularly strong on Thursday when the stock spiked by 12.1 per cent in a single session. Total trading volume exceeded 24.4 million shares, with turnover reaching over IDR 34 trillion.
Barito Renewables Energy Tbk. (BREN), one of the most liquid stocks in the sector, also posted gains midweek, touching IDR 9,075 on Thursday. However, profit-taking on Friday pushed the stock down slightly to close at IDR 9,050, still up 4.6 per cent from Monday’s opening level of IDR 8,650. Weekly trading volume surpassed 138 million shares worth more than IDR 1.24 trillion.
Pertamina Geothermal Energy Tbk. (PGEO) faced steady selling pressure through most of the week, falling to a low of IDR 1,325 on Thursday. It recovered slightly on Friday to close at IDR 1,340, still down 4.3 per cent from Monday’s level of IDR 1,400. The stock remained highly liquid, with more than 253 million shares traded across the week.
Maharaksa Biru Energi Tbk. (OASA) declined 9.1 per cent to IDR 240, weighed down by heavy trading volumes. Hero Global Investment Tbk. (HGII) saw sharp swings, rising 13.3 per cent on Thursday before closing the week at IDR 150, down from its midweek peak of IDR 162.
Meanwhile, Kencana Energi Lestari Tbk. (KEEN) was essentially flat at IDR 820, while Semacom Integrated Tbk. (SEMA) inched up to IDR 103. Terregra Asia Energy Tbk. (TGRA) remained unchanged at IDR 27, with no recorded trades throughout the week.
Analysts noted that while ARKO’s rally stood out, the broader sector sentiment remained cautious. High trading volumes in BREN and PGEO suggest investor focus remains concentrated on large-cap renewable plays, though price swings could persist amid global market uncertainties. (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.
