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Business trends

Asian companies see profit evaporating as China demand shrinks

From smartphones to autos, suppliers suffered double-digit declines last quarter

Employees work at a production line inside the Chery Jaguar Land Rover plant in Changshu, Jiangsu Province. The Indian-owned carmaker saw sales plunge in China.   © Reuters

TOKYO -- China's economic slowdown is weighing on corporate earnings across Asia and around the world as businesses and consumers tighten their purse strings in a vital market.

Nikkei tallied earnings and analyst forecasts for the October-December quarter for leading companies in the U.S., Europe, China, Japan and the rest of Asia. China suffered a particularly sharp slowdown, with sales slumping roughly 30% on the year. Net profit sank 9%, marking the first decline on a quarterly basis in two years and the largest drop since April-June 2016.

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