Asian companies’ earnings have been downgraded for the first time in 16 months, data shows, on concerns over slowing growth in China and on worries that higher inflation and supply chain disruptions would weigh on profits. According to Refinitiv IBES estimates data, MSCI Asia-Pacific companies’ earnings estimates for the next 12 months have been cut by 1.3 percent in the past month, the first downgrade since June 2020. “We turn cautious on the earnings outlook of Asian companies,” said Alvin So, equity strategist at Goldman Sachs, in a note this week. “We forecast MXAPJ earnings to grow 32 percent this…
Source link : Analysts Cut Asia’s Corporate Earnings Estimates on Growth Concerns by The Epoch Times
