Interim review based on results for 31% of MSCI China (by index weight) 100% of A-shares have finished reporting. 3Q earnings delivery worsened QoQ MSCI China will show a notably deteriorated set of results if this trend continues into the final cut. Only onshore-based Utilities and Consumer Discretionary companies posted net beats remaining sectors all delivered net misses, both onshore and offshore. Consensus earnings estimates revision breadth staying negative downward cut re-acceleration likely though Nov.
Morgan Stanley-China Equity Strategy 3Q23 Earnings Interim Review Broad D…-104775533.pdf-size0.61MB