Indonesian shares end flat

Indonesian shares ended flat Friday as political uncertainty ahead of presidential elections and selling of resource stocks weighed on sentiment, dealers said. The Jakarta Composite Index lost 1.37 points, or 0.09 percent, to 1,591.33 in moderate volume. "The main index was moving like a yo-yo to reflect caution and concerns over local politics," a trader told Dow Jones Newswires.
The market has fallen four days in a row in response to the breakdown of coalition talks between the Golkar party and President Susilo Bambang Yudhoyono's Democrats of ahead of elections in July. Indo Tambangraya lost 3.1 percent to 14,000 rupiah and gas distributor Gas Negara slipped 2.1 percent to 2,325 rupiah. Bank Danamon plunged 1.8 percent to 2,675 rupiah after reporting weak first quarter earnings. The rupiah closed at 10,805 to the dollar compared to 10,910 at last close.