Corporate earnings in China may continue to underwhelm as the measures taken by Beijing so far are insufficient to reverse the deflationary trend gripping the economy, according to Morgan Stanley.
“We already had 13 quarters of consecutive earnings miss, and we expect the upcoming fourth quarter results to be another miss,” Laura Wang, chief China equity strategist at the firm, said in an interview on Wednesday. “Without very meaningful policy stimulus, the next two quarters could be earnings miss as well.”
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