Asia Inc second-quarter profits grow at slowest pace in nearly 2 years as trade tensions rise
Updated : September 14, 2018 06:42 AM IST
An analysis of about 4,000 Asian companies excluding Japan showed their combined net profit rose 12.98 percent in the June quarter, easing for the third straight quarter and the slowest pace of expansion the September quarter of 2016.
More pressure is building, with analysts slashing their forecasts for the current fiscal year by 5 percent on average over the last 90 days, a separate analysis of more than 15,000 firms showed.
In the same period, analysts have cut down their third-quarter earnings forecasts by 4.9 percent.