Tuesday, 17 January 2017

JPMorgan reverses view on Indonesian equities

JPMorgan Chase headquarters in New York. JPMorgan has upgraded its view on Indonesian stocks just weeks after a negative stance prompted the government to sever all official ties with the bank. Jakarta stopped using the U.S. investment bank as a primary dealer or an underwriter for sovereign bonds after JPMorgan's Asia-Pacific equity strategists in November slashed the country's equity rating outlook by two categories to "underweight". 

In research sent to clients on Monday, however, JPMorgan's team said it was closing the "tactical underweight" recommendation in place since November and instead advised a "neutral" stance.

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