Asian companies see earnings upgrades by analysts over the past month

Analysts raised 2023 earnings estimates for Asian companies over the past month, contrasting with the raft of earnings downgrades in the last year, as China's reopening and slowing inflationary pressures boost optimism.

GRAPHIC: MSCI Asia-Pacific index's estimates change - https://fingfx.thomsonreuters.com/gfx/mkt/zjpqjeqblvx/MSCI%20Asia-Pacific%20index's%20estimates%20change.jpg "North Asia is likely to lead after ASEAN and India strengthened in 2022 as China markets rebound further and Korea anticipates recovery," the brokerage said on Monday.

The MSCI Asia-Pacific index dropped about 20 per cent in 2022, the biggest yearly decline in 14 years. But, that has also made the region's stock valuations cheaper.

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