June 7, 2019 / 9:47 AM / 5 months ago

Analysts trim Asian firms' 2019 profit outlook on trade woes

(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.

graphic: tmsnrt.rs/2QPQkbn

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.

Reporting by Gaurav Dogra and Patturaja Murugbaoopathy in Bengaluru; Editing by Sherry Jacob-Phillips

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