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GRAPHIC-Analysts cut Asia's corporate earnings estimates on growth concerns

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By Reuters Staff3 Min Read(Reuters) - Asian companies’ earnings have been downgraded for the first time in 16 months, data shows, on concerns over slowing growth in China and on worries that higher inflation and supply chain disruptions would weigh on profits.According to Refinitiv IBES estimates data, MSCI Asia-Pacific companies’ earnings estimates for the next 12 months have been cut by 1.3% in the past month, the first downgrade since June 2020.“We turn cautious on the earnings outlook of Asian companies,” said Alvin So, equity strategist at Goldman Sachs in a note this week.“We forecast MXAPJ earnings to grow 32% this year and 9% in 2022-23, cumulatively 5% below bottom-up consensus on 2023 EPS, with risks stemming from virus impact, China growth and policy, supply disruption, and cost inflation.”(GRAPHIC: MSCI Asia-Pacific Index's forward 12-month EPS esti

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