Jakarta may curb 'bad' reports by foreign banks
JAKARTA • Indonesia's government is considering curbs on negative research reports by foreign banks, building on its decision to punish JPMorgan Chase for issuing a bearish call on the country's equities market.
The Finance Ministry said it may ask top management at global banks which hold primary dealerships in Indonesian sovereign bonds to sign pledges to refrain from issuing research that could destabilise local financial markets.
Fall in Bank Negara's foreign reserves
KUALA LUMPUR • Malaysia's central bank yesterday said its gross international reserves stood at US$94.6 billion (S$135.6 billion) as of Dec 30, lower than the US$96.4 billion on Dec 15. The reserves were enough to finance 8.8 months of retained imports and were 1.3 times the short-term external debt, said Bank Negara.
The reserve levels took into account adjustments for forex revaluation and were supported by the current account surplus and inflows of foreign direct investment.