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Earnings growth in Asia could jump by more than 20% this year, say UBS and Goldman Sachs

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Earnings growth in Asia will bounce back this year as the economy recovers, and it could jump by more than 20% in the region, UBS and Goldman Sachs told CNBC.

"We think we're … on the cusp of a very significant earnings recovery in Asia and so we're looking at about 24%, 25% earnings growth this year," Timothy Moe, chief Asia Pacific regional equity strategist at Goldman Sachs said.

"We are looking for a strong earnings recovery across all major regions of the world," said Tan Min Lan, Asia Pacific head of chief investment office at UBS Global Wealth Management. "In Asia itself, earnings actually were remarkably resilient in 2020, actually it fell by 1% versus the global earnings which declined between 25% to about 30% in some of the key regions."

 

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