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Indonesia ends all JPMorgan partnerships after downgrade

The bank downgraded Indonesia's equity market by 2 notches to underweight after Trump's US election win

Published Tue, Jan 3, 2017 · 09:50 PM
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Jakarta

INDONESIA'S government said it terminated all business partnerships with JPMorgan Chase & Co after the US bank downgraded its assessment of equities in South-east Asia's largest economy following Donald Trump's election win.

The finance ministry will stop using JPMorgan as a primary dealer and as an underwriter of its sovereign bonds, Robert Pakpahan, the ministry's director-general for budget financing and risk management told reporters in Jakarta on Tuesday. He said a November research report issued by the bank was not "accurate or credible". JPMorgan…

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