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

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.

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