2Q26 Earnings forecast: Growth in challenging environment

Posted:  Jun 30, 2026

  • In Q2/2026, we estimate total market earnings to possibly acheive growth of 15% YoY in a challenging macroenvironment characterized by high oil prices and elevated inflation
  • In Q2/2026, several sectors experienced noticeable earnings growth including transporation (+65% YoY), supported by GMD’s unordinary profits; industrial real estate (+58% YoY) with contributions from rubber sectors, retail (+34%), and oil (+28% YoY)
  • Several sectors experienced earning decline due to higher fuel costs such as aviation (-61% YoY), exports (-35% YoY).
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