tariffs inpact in Asia
How Tariffs Are Shaping Asian Company Earnings
A new analysis by LSEG IBES via Reuters shows that the impact of tariffs on Asian companies is far from uniform, with some markets bearing heavier losses while others surprisingly stand to gain. The data compares changes in 12-month forward earnings estimates between August 7 and August 21, 2025.
India emerges as the hardest-hit, with projected company earnings dropping by 1.2%, underscoring its vulnerability to shifting trade dynamics. Taiwan (-0.4%), Malaysia (-0.3%), and Singapore (-0.3%) also show notable declines, reflecting the pressure on export-driven industries. Thailand’s losses are smaller at -0.1%.
Meanwhile, some economies remain neutral—Indonesia, the Philippines, and Australia recorded 0.0% change, suggesting resilience or a wait-and-see stance by investors. On the other end of the spectrum, certain markets actually benefited: Hong Kong, Vietnam, and Japan each saw a modest +0.1%, while China rose +0.3%. South Korea is the standout winner, with company earnings forecasts climbing +0.5%, possibly driven by its strong position in tech and manufacturing supply chains.
— in Worldwide.
A new analysis by LSEG IBES via Reuters shows that the impact of tariffs on Asian companies is far from uniform, with some markets bearing heavier losses while others surprisingly stand to gain. The data compares changes in 12-month forward earnings estimates between August 7 and August 21, 2025.
India emerges as the hardest-hit, with projected company earnings dropping by 1.2%, underscoring its vulnerability to shifting trade dynamics. Taiwan (-0.4%), Malaysia (-0.3%), and Singapore (-0.3%) also show notable declines, reflecting the pressure on export-driven industries. Thailand’s losses are smaller at -0.1%.
Meanwhile, some economies remain neutral—Indonesia, the Philippines, and Australia recorded 0.0% change, suggesting resilience or a wait-and-see stance by investors. On the other end of the spectrum, certain markets actually benefited: Hong Kong, Vietnam, and Japan each saw a modest +0.1%, while China rose +0.3%. South Korea is the standout winner, with company earnings forecasts climbing +0.5%, possibly driven by its strong position in tech and manufacturing supply chains.
— in Worldwide.
