Profit estimates for all Asian stock sectors were increased over the last three months of 2017, with cyclical shares seeing the steepest upgrades from analysts, according to data compiled by Bloomberg. That compares with an increase of 4.4% for the wider MSCI Asia Pacific Index. The strong outlook for cyclicals is a positive sign for the broader Asian market, as those stocks make up the bulk of the Asia Pacific benchmark. That “in turn is raising demand for investment goods.”Taiwan’s technology stocks dominate the upgrades, followed by energy equities in Japan and Hong Kong. The company is projected to post a 25% increase in adjusted net income for the fourth quarter, analysts’ estimates compiled by Bloomberg show.

Source: Mint January 08, 2018 01:07 UTC