JP Morgan 'sanctioned' for negative report

摘要

Indonesia said last Thursday it had "sanctioned" jp morcan after the investment bank recommended smaller exposure to government bonds of South-East Asia's biggest economy, but did not say what the sanctions entailed. Investor sentiment toward Indonesia has turned increasingly negative due to its fragile economy, with slowing domestic consumption, declining forex reserves, and rock-bottom commodity prices. JP Morgan moved to "underweight" from "overweight" on Indonesian government bonds in a report dated August 20. Some of the reasons it cited were China's devaluation of its currency and Indonesia's planned increase in government borrowings.