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Jakarta shares

close flat

JAKARTA: Jakarta share prices ended flat in dull trading, with the market dominated by players speculating on second-line stocks, brokers said.

The composite index closed at 501.17 points, up 0.12 percent or 0.58 points, from Friday's close.

"The market was mainly dominated by local players due to the public holiday in Hong Kong and London," one broker said.

Local focus was on SMART, Putra Surya Perkasa, Bayu Buana and Mas Murni. Brokers said there were no clear reasons except for SMART, which rebounded on bargain hunting but retreated due to profit taking. SMART eased 50 rupiah to 2,000 ruipah.

One local broker said Mas Murni fell 50 rupiah to 825 rupiah after its share price soared last week as the company was rumoured to be a takeover target.

"Prices started to ease as market talk began to ease," one said. Brokers were not clear what was behind the sharp rises in Bayu Buana, which surged 42 percent to 1,600 rupiah.

One foreign broker said offshore players were mainly on the sidelines due to the Hong Kong and London markets' closure.

Gainers included Mulialand and Mayora, both were on thin volume. Among the losers were Andayani Megah and Unilever.-Reuter