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Listed firms to see slower profit growth
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CHINESE listed companies expect to see earnings growth slow from 18 percent in the first half of the year to 5 percent in the second six months, and the Chinese stock market will turn its attention to the macro economy, UBS Securities said.
Both the macro-economic growth and the profit growth of public companies will slow from the high base in the first half of last year, including investments in properties and capital construction according to Gao Ting, chief strategy analyst of UBS Securities China.
The semi-annual reports of public companies showed that net profits grew 18 percent.
In the second half of this year, however, the growth will slow year on year, owing to the strong base number of last year and slowing investments. The strengthening of government’s financial regulations and risk management will restrain market liquidity and credit growth to some extent, UBS said.
“In the next several months, China’s market expects to turn its interest to the macro level such as the reform of state-owned enterprises, supply-side reform and environmental protection,” Gao said.
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