JPMorgan’s ‘Uninvestable’ Call on China Was Published in Error
- Bank cut the label from most research notes before publication
- Controversy underscores debate over investments in China
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In the buttoned-down world of Wall Street research, JPMorgan Chase & Co.’s description of Chinese Internet companies was an instant shocker: “uninvestable.”
The evocative label helped erase about $200 billion from U.S. and Asian markets and prompted one Chinese technology company to downgrade JPMorgan’s underwriting role on an upcoming initial public offering.