0214 GMT - Indonesia's Jakarta Composite Index appears still undervalued, DBS Group Research analysts say in a report. Low valuations reflect persistent foreign outflows and concerns about the country's macroeconomic and earnings outlook. "While this creates an attractive valuation entry point, we do not expect cheap valuations alone to trigger an immediate re-rating," they say. An MSCI review in November is a key near-term catalyst for the Indonesian stock index as a favorable outcome could help restore foreign investor confidence. Until then, DBS expects the index to remain largely rangebound. The Jakarta Composite Index is 0.4% higher at 6647.26.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.