Flying high: File picture of Indonesians looking at share prices at the Indonesian stock exchange in Jakarta. Foreign investors plowed a net US626mil into Indonesian equities in the first quarter. — EPA
HONG KONG: Morgan Stanley warned of risks to Indonesian earnings growth as foreign investors pile into the country’s equities and help send the Jakarta Composite Index to a record.
While the outlook for the second half of the year is upbeat, elevated valuations are a concern, according to equity strategists Aarti Shah and Sean Gardiner.
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