{"id":6492,"date":"2007-09-03T00:00:00","date_gmt":"2007-09-03T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"china-incs-profit-growth-forecast-doubles","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2007\/china-incs-profit-growth-forecast-doubles.html","title":{"rendered":"China Inc&#8217;s profit growth forecast doubles"},"content":{"rendered":"<p>  SHANGHAI (Reuters)- Fund managers and securities analysts have doubled their forecasts for Chinese firms&#8217; profit growth in the second half of 2007 to 50 or 60 percent after China Inc posted  spectacular earnings for the first half.<\/p>\n<p>  The forecasts, based on a Reuters poll this week, will help to ease concern that China&#8217;s stock market may be getting dangerously overvalued as year-to-date gains for the Shanghai Composite Index  top 90 percent.<\/p>\n<p>  All 10 poll respondents said the index, at 5,185 points at midday on Friday, could end 2007 above 6,000 points &#8212; 16 percent above its current level and more than 120 percent above where it started  the year.<\/p>\n<p>  &#8220;The first-half growth of corporate earnings is surprising, but then China&#8217;s economy is proving surprisingly strong,&#8221; said Ren Chengde, analyst at Galaxy Securities. &#8220;This kind of growth makes  stock valuations more attractive.&#8221;<\/p>\n<p>  Combined net profit at 1,503 listed firms jumped 70 percent from a year earlier to 323 billion yuan in the first half, excluding firms which did not report year-earlier figures, the official  Shanghai Securities News calculated on Friday, the last day of the reporting season.<\/p>\n<p>  That was much better than the 30-40 percent first-half growth which analysts had been expecting just a month or two ago.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" height=\"1\" src=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~4\/150444747\" width=\"1\" border=\"0\"><br \/><a href=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~3\/150444747\/idUKNOA13067020070831\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHANGHAI (Reuters)- Fund managers and securities analysts have doubled their forecasts for Chinese firms&#8217; profit growth in the second half of 2007 to 50 or 60 percent after China Inc posted spectacular earnings for the first half. The forecasts, based [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6492","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6492"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6492\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}