Asia analysts expect biggest profit drop since 2018BloombergAsian stocks just cannot catch a break. Earnings per share for MSCI Asia Pacific Index members slid 16 percent in the three months through June from a year earlier, the steepest decline in eight quarters, analyst estimates compiled by Bloomberg Intelligence showed. Photo: AFPThe prospect of dwindling profits adds to the negatives that have dragged the MSCI Asia Pacific Index down almost 16 percent this year, putting it on course for its worst annual performance since 2018. “All the elements are not in place for a sustainable up-move,” said Rajat Agarwal, an Asia equity strategist at Societe Generale SA. A slowdown in China is one of the major factors pushing down regional earnings, particularly as Chinese firms make up about 20 percent of the MSCI Asia gauge.

Source: Taipei Times August 14, 2022 22:11 UTC