, Columnist
Cut JPMorgan Some Slack
Market moves since November bear out the bank's decision to change its rating.
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Don't leap to conclusions about JPMorgan Chase & Co.'s decision to upgrade its assessment of Indonesia's stock market.
The New York-based bank has elevated internal compliance to nuisance levels in Asia since a scandal over its hiring practices in China broke three years ago, people who work at JPMorgan tell me. In such an environment, the Indonesia rating change was probably just what the analysts said it was: a tactical shift.