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Industrial Profits

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China's profits soar on AI and chip boom amid oil headwinds
business1 month ago

China's profits soar on AI and chip boom amid oil headwinds

China’s industrial profits rose 15.8% year-on-year in March—the fastest in six months—driven by equipment and high-tech manufacturing as AI and semiconductors lift earnings. First-quarter profits were up 15.5%, with exports climbing 14.7%. Sub-sectors like optical fibers, optronics, displays, drones, and intelligent devices posted large gains, while raw-material producers benefited from refinery profits. Oil price pressures threaten margins, but large Iranian oil inventories and tanker stock provide some cushion amid domestic demand headwinds and a positive March for producer prices.

via CNBC|
#ai#business#china
China's Industrial Profits Show Mixed Growth Amid Lingering Deflation
economy2 years ago

China's Industrial Profits Show Mixed Growth Amid Lingering Deflation

China's industrial profits grew for a third consecutive month in October, but at a slower pace, indicating the need for further policy support to boost the country's economy. The 2.7% year-on-year increase in profits narrowed from previous months, putting pressure on authorities to provide more assistance to manufacturers amid soft global demand. Profits for the first 10 months of 2023 declined 7.8% compared to the previous year. China's economy has faced challenges including housing market distress, local government debt risks, slow global growth, and geopolitical tensions. The government has implemented various support measures, but the impact has been limited, prompting calls for additional stimulus.

via Reuters|
#china#economic-growth#economy
China's Industrial Profits Continue to Rise with Government Support
economy2 years ago

China's Industrial Profits Continue to Rise with Government Support

China's industrial profits continued to rise for a second consecutive month in September, with a year-on-year increase of 11.9%, following a surprise gain of 17.2% in August. The recovery in profits is attributed to supportive policy measures and stronger industrial and consumption activity. Although profits for the first nine months of the year were down 9% compared to the previous year, the decline narrowed from the first eight months. The improvement in industrial profits is expected to continue in the coming months, driven by domestic macro pump-priming. However, the property sector's weakness remains a drag on the economy and corporate earnings. State-owned firms saw the biggest decline in earnings, while private-sector companies recorded a smaller slide.

via Reuters|
#china#domestic-demand#economy
"China's Industrial Profits Continue Slumping for Seventh Consecutive Month"
economy2 years ago

"China's Industrial Profits Continue Slumping for Seventh Consecutive Month"

China's industrial profits have fallen for the seventh consecutive month, with a 6.7% decline in July compared to the previous year. Weak demand and a faltering post-pandemic recovery have squeezed companies in the world's second-largest economy. Profits for the first seven months of the year have shrunk by 15.5% year-on-year, following a 16.8% decline in the first half. Major banks have downgraded their growth forecasts as a worsening property slump, weak consumer spending, and tumbling credit growth continue to hamper the economy. State-owned enterprises, foreign firms, and private-sector companies have all recorded significant profit declines.

via Reuters|
#china#economic-slump#economy
Asian Markets Soar as Fed Raises Rates to 22-Year High
finance2 years ago

Asian Markets Soar as Fed Raises Rates to 22-Year High

Asia-Pacific markets mostly rose after the U.S. Federal Reserve raised interest rates to their highest level in over 22 years, while leaving room for further tightening. Japan's Nikkei 225 and South Korea's Kospi both closed higher, while Australia's S&P/ASX 200 also ended in positive territory. Hong Kong's Hang Seng index traded higher, but mainland China's Shanghai Composite edged lower. China's industrial profits continued to decline, recording a year-to-date fall of 16.8%. Shares of Chinese EV maker Xpeng surged after Volkswagen announced a partnership to develop two new electric vehicles for China. HSBC predicts that global oil demand will peak later this decade and then decline due to the shift towards electric vehicles. Samsung Electronics reported a 95% plunge in quarterly profit but expects global demand to recover in the second half of the year. Goldman Sachs highlights the challenge of finding reasonably valued growth stocks. Hong Kong's central bank raised interest rates in line with the Fed, and the Dow Jones Industrial Average closed higher, achieving its best winning streak since 1987.

via CNBC|
#asia-pacific-markets#ev-maker#federal-reserve
China's Industrial Profits Continue to Decline Amidst Soft Demand and High Costs.
business3 years ago

China's Industrial Profits Continue to Decline Amidst Soft Demand and High Costs.

China's industrial profits fell by 22.9% YoY in the first two months of 2023, due to weak demand and high costs, despite an uptick in industrial output. The decline was led by a fall in auto sector profits, thanks to a moderation in overall demand, production costs, fading auto subsidies, and price wars. Foreign firms posted a 35.7% decline in profits, while private-sector firms saw their profits down 19.9%. The data follows a flurry of economic indicators that show an uneven recovery from the COVID-19 pandemic.

via Reuters|
#business#china#covid-19