- JPMorgan (NYSE:JPM) has raised its call for Indonesian stocks to Neutral from Underweight, partially reversing a move it made in November.
- "Redemption and bond volatility risks have now played out, in our view... Indonesia's macro fundamentals are strong, with high potential growth rate and low debt/GDP with economic reform."
- The Indonesian government cut its business ties with JPMorgan after the bank downgraded its investment recommendation on local stocks to Underweight from Overweight in a November research note.
- ETFs: IDX, EIDO, IF, IDXJ
- Previously: Indonesia weighs curbs on negative bank research (Jan. 06 2017)