TOP technology, e-commerce and consumer electronic firms in China are set to report a sharp slowdown in revenue growth for the third quarter of the year, as trade tensions with the United States hurt consumer spending.

Revenues at a handful of China’s biggest tech firms are expected to grow 26 percent on average in the quarter ended June 30 — the slowest in six quarters — compared with the same period a year earlier, according to consensus estimates from Refinitiv. This includes China’s e-commerce giant Alibaba Corp. and its smaller rival JD.com, Internet firm Baidu Inc., and Tencent Holdings, the world’s largest gaming company.

JD.com, based on Refinitiv data, could manage to eke out a small profit by curbing costs. But with fewer consumers buying household appliances and electronics, the online retailer is likely to post its slowest revenue growth in at least five years.

Alibaba’s profit likely grew 27 percent, its fourth successive quarterly rise. Big promotions are expected to propel its sales 38 percent higher, but that will be the company’s slowest growth in 14 quarters.

Tencent is expected to post profit growth of 24 percent, versus a 2 percent decline a year earlier, helped by adoption of its patriotic-themed video games and cloud services. The music-streaming unit it backs — Tencent Music — missed revenue estimates as it reported the slowest increase since its debut in December.

Baidu’s profit likely fell 71 percent, its third straight quarterly decline, while Xiaomi Corp.’s revenue growth is expected to be the slowest since its initial public offering in July last year.

(SD-Agencies)