Nomura Raises Recommendation on Indonesia Stocks to Overweight

Nomura has upgraded Indonesia stocks to overweight due to attractive valuations and a supportive domestic policy. The central bank's interest rate-cut cycle is expected to boost growth, easing concerns around policy uncertainty and slow fiscal disbursement. Nomura favors quality private banks and select consumer stocks, predicting a broadening of stock rotations next year. The Jakarta Stock Exchange Composite Index rose 0.6% to 8,669.187 on Wednesday.