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Earnings upgrades likely for H-shares

By Yi Tin Chak | 25 February 2008
Keywords: goldman sachs | research | adrian mowat | garry evans

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Specialists expect accelerated appreciation of the renminbi to drive up China’s consensus earnings growth estimates.

Chinese companies listed in Hong Kong deserve an earnings upgrade because the renminbi is on course to appreciate up to 13% in 2008, say analysts who expect the Chinese authorities to use currency appreciation as a key tool this year to manage an escalating inflation threat.

For Chinese companies reporting in Hong Kong dollars, a stronger renminbi will result in a bottom line gain simply as a result of the currency translation -- something which hasn't yet been fully factored into earnings forecasts, some analysts say. And even if analysts have taken renminbi appreciation into ...

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