BENGALURU - The top 200 Chinese companies spanning consumer, technology, industrial, property and financial industries reported September quarter earnings well ahead of market expectations, setting them up for a strong showing next year, analysts said.
FILE PHOTO: A man checks phone at Lujiazui financial district in Pudong, Shanghai, China March 14, 2019. REUTERS/Aly Song These companies mostly beat lowered market expectations as consumer spending remained strong, boosted by Chinese shoppers who opted to buy at home than to travel abroad, as a weaker yuan inflated travel costs.
Profits at Chinese companies grew 10% in the July-September period, beating the 2% growth rate analysts had predicted, and ahead of China’s slowing economic growth rate. Only companies with a market capitalization of over $1 billion and tracked by at least three analysts are covered in this analysis.“The sectors that were expected to suffer from the U.S.
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.
Source: MarketWatch - 🏆 3. / 97 Read more »