China stocks outlook gloomy as corporate profits set to falter for second straight quarter

Quick Summary:

Guidance disclosed so far does not bode well for second-quarter reports, which when released may dampen already shaky market sentiment, analysts say.

Workers of an optical instrument company monitor equipment at a facility in the economic development zone of Renshou County, Meishan City, in southwest China’s Sichuan province on June 11, 2024.

That would mark the second straight quarter of decline after first-quarter profits slid by 4 per cent year on year.

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Article Details

Author / Journalist: Zhang Shidong

Category: Business

Markets: Hong KongChinaSingapore

Topics: Year Profit Growth China’s Companies Cent According Earnings Securities Second-quarter China

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-16 @ 13:58:39 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 566 words

Reading Time: 4 minutes read

Sentences: 17 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21646799

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