Indonesia terminates business relationship with JP Morgan

By Morgan Davis
04 Jan 2017

The Indonesian government has cut its business ties with JP Morgan, following the bank’s decision to downgrade the country’s stocks in November.

The US bank cautioned investors about emerging market risks in a report published on November 13, following Donald Trump's shock victory in the US presidential election. “There are losers from Trumponomics," wrote JP Morgan analysts.

The analysts cut their recommendation on Indonesian equities from overweight to underweight, while also ...

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