Tech, Consumer Stand Out as China Earnings Revival Hopes Grow

Members of the MSCI China Index delivered an 8.1% positive earnings surprise for the April-June quarter as the communication services and consumer discretionary sectors helped offset disappointments elsewhere, notably at troubled real estate firms, data compiled by Bloomberg Intelligence show. The performance of the two sectors is crucial given that they account for about half of the MSCI gauge’s weight.

The benchmark CSI 300 Index rose 2.2% this week following a rout through most of August. Meanwhile, forward earnings estimates for MSCI China members have climbed 0.6% from this year’s low at the end of June, according to data compiled by Bloomberg. China’s internet leaders were relatively freer to pursue growth in 2023 after more supportive rhetoric from Beijing, signaling regulators were relaxing policies put in place earlier to constrain what they termed a disorderly expansion of capital by the private sector.

United States United States Latest News, United States United States Headlines

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

Lululemon earnings beat estimates, boosts full-year forecastLululemon Athletica (LULU) reported second quarter results that beat on both the top and bottom lines. Oppenheimer & Co. Senior Analyst Brian Nagel calls the results 'very solid.' Nagel goes on to say that Lululemon is benefiting from the fact that people are still dressing casually post-pandemic. On the consumer, Nagel says 'this is one of the most fluid, frankly one of the most confusing consumer environments I have ever seen.' 'I think what we're seeing here is a discerning consumer,' Nagel adds.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »