Oil and Gas Issuers Face Negative Market Sentiment

Bisnis.com, JAKARTA — President Prabowo Subianto’s pledge to boost Indonesia’s energy mix with new and renewable energy (EBT)—potentially up to 100 percent—triggered negative sentiment toward fossil fuel stocks.

As a result, the Jakarta Composite Index (IHSG) was unable to hold above the 8,000 level at the end of trading on Friday (15/8). The benchmark briefly touched an intraday record of 8,017.07 in the first session before slipping into the red, closing at 7,898.38.