June 7 (Reuters) - Analysts are downgrading their full-year
profit forecasts for Asian companies, Refinitiv data showed, as
fears mounted over the impact of a festering Sino-U.S. trade war
on regional firms.
In the last 30 days, analysts slashed their outlook for
Asian companies' earnings by about 2%, the data showed.
The downgrades were mainly for South Korean firms, followed
by companies in Malaysia and New Zealand. It came after most
Asian firms posted a dismal performance in the first quarter of
2019.
At least 55% of Asian companies have missed their net profit
forecasts in the first quarter, Refinitiv data showed. South
Korea and Malaysian firms were the worst performers with over
60% earnings miss, according to the data.
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Analysts' profit estimates change in last 30 days https://tmsnrt.rs/2QPQkbn
Asian equities sector-wise profit estimate change https://tmsnrt.rs/2QPpyA1
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