More Bad News for Stocks as Asia’s Earnings Rebound Peaks
- EPS growth at MSCI Asia Pacific Index firms slows from 1H
- Morgan Stanley, Goldman Sachs see downgrades for Chinese firms
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Asia’s earnings growth slowed considerably in the latest quarter, putting the region’s already lackluster stock markets further behind global peers.
Third-quarter earnings per share grew by 36% for MSCI Asia Pacific Index members, a muted performance compared with the triple-digit gains in the first half thanks to the rebound from the pandemic, according to the latest earnings data compiled by Bloomberg. Corporate profits for benchmarks in the U.S. and Europe grew 42% and 91% respectively, in the three months through September.