ASIAN equities have shown signs of stabilisation in the first quarter of 2023, with earnings forecasts bottoming. After the market’s strong ‘style rotation’ into value since 2021, the growth style is gaining ground. The corporate earnings outlook for 2023 is likely to be mixed across Asia – while the tech sector in Korea and Taiwan is expected to see double-digit earnings declines, as it struggles with weak demand in the first half of the year, double-digit earnings growth recovery is likely in China/Hong Kong due to the economic reopening and policy easing. In India and the Asean nations (Indonesia, Malaysia, Philippines, Singapore and Thailand), a continuation of decent-to-solid earnings...
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