Companies in Thailand are forecast to chalk up the highest earnings per share (EPS) growth in Asia in the coming 12 months at 50.9 percent, followed by China and India, analysts said in a report published yesterday.
The outlook comes from StarMine Professional, which compiles analysts' estimates and provides equity research performance ratings of listed companies' earnings.
The data published in the Business Times predicts 33.6 percent growth for firms in China. Listed firms in India are expected to boost their EPS by 18.2 percent, followed by 17.5 percent for Indonesia and 17.3 percent for South Korea.
The forecast for Australian companies is 13.5 percent, 12.6 for those in the Philippines, 10 percent for Taiwan and 6.6 percent for Sri Lanka.
Companies in Singapore, faced with a small domestic market and an open economy, are likely to see EPS improve by a mere 5.9 percent, making it the market with the third worst outlook in Asia, said StarMine.
Hong Kong fares even worse, with its companies expected to register a 2.5 percent decline this year. Malaysia has a negative 0.9 percent earnings outlook.
Company earnings in Thailand are coming off a low base, Timothy Wong, head of regional equity research with DBS Vickers Securities, told the newspaper.
This accounts for the high EPS rates, he said, but the market's overall valuation is low because it is perceived as a higher-risk emerging market.
"On the political front, there remain a number of uncertainties, although things are moving in the right direction," Wong was quoted as saying.
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