More earnings downgrade in store for Chinese companies
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Singapore
ABOUT half of the listed companies on MSCI China Index have issued their fourth-quarter 2021 report cards, and the picture is not that great, with Morgan Stanley expecting further earnings downgrades.
So far, reported results reflected a stabilisation in corporate earnings, compared to the third quarter of 2021. But this is compared to a low base in Q3, when MSCI China posted the second worst set of results since the Covid-10 outbreak. The latest Q4 earnings are also compared to consensus numbers, which have been revised down considerably.
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