News Formal

Analysts cut 2024 earnings outlooks for Asian firms amid China slowdown, Q3 profit gloom

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 66%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

Prospects for robust earnings growth for Asian companies in 2024 look bleak as analysts are relentlessly cutting regional companies' forward 12-month earnings estimates due to China's faltering economy, disappointing third-quarter earnings, and a rise in interest rates.

FILE PHOTO: Bar staff members stand in the middle of the road to promote their bars and restaurants in Lan Kwai Fong, a popular nightlife destination, in the financial central district of Hong Kong, China October 3, 2023. REUTERS/Tyrone SiuNew: You can now listen to articles.

"Given China is almost 40 per cent of the Asian earnings pie, this has implications for the overall Asia earnings cycle, investor sentiment and foreign inflows." "This has largely been on the back of the property sector and utilities, where results came softer than expected," she said. "Overall, the earnings season has disappointed Street expectations, with more misses than beats. These results have led to overall earnings downgrades," said Chetan Seth, an equity strategist at Nomura, in a note this month.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 6. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Emerging market currencies to claw back ground in 2024 as dollar fades: Reuters pollBENGALURU/JOHANNESBURG : Emerging market currencies will take well into next year to start making noticeable gains against a retreating U.S. dollar, despite a growing view the interest rate cycle has peaked, a Reuters poll of FX strategists showed.
Fonte: ChannelNewsAsia - 🏆 6. / 66 Consulte Mais informação »