Asia’s Companies See Profit Evaporating as China Demand Shrinks

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Economic slowdown of China is weighing on corporate earnings across Asia and around the world as businesses and consumers tighten their purse strings in a vital market. Nikkei tallied earnings and analyst forecasts for the October-December quarter for leading companies in the China, Japan, U.S., Europe and the rest of Asia. China suffered a particularly sharp slowdown, with sales slumping roughly 30 percent on the year. Net profit sank 9percent, marking the first decline on a quarterly basis in two years and the largest drop since April-June 2016.

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