Valuations of Asian stocks hit lowest since March 2020

Valuations of Asian equities dropped for a third straight month in June and hit their lowest since the start of the pandemic, as regional equity markets plunged on concerns over a global recession and aggressive rate hikes by major central banks.

"Concerns about earnings downgrades and rising cost of capital have driven down valuations, though earnings estimates, we feel, are close to bottoming out," said Manishi Raychaudhuri, Asia-Pacific equity strategist at BNP Paribas. GRAPHIC: https://fingfx.thomsonreuters.com/gfx/mkt/lbvgnxkrapq/Breakdownper cent20byper cent20countryper cent20forper cent20Asia-Pacificper cent20equities'per cent20valuations.jpg

The Shanghai Composite Index gained 6.66 per cent last month, despite the MSCI Asia-Pacific index and the MSCI World index's steep losses of 6.78 per cent and 8.44 per cent, respectively.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian dollar bond issuance tumbles as companies turn to bank lendingSINGAPORE/HONG KONG : New issuance of dollar bonds in Asia in the first half of 2022 fell to its lowest in three-and-a-half years, as rising interest rates and turmoil in China's property sector spooked investors and companies turned to bank loans to raise funds instead. Asian companies raised a total of
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »