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Asian business confidence rebounds sharply, pandemic casts shadow - Thomson Reuters/INSEAD survey

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Business sentiment among Asian firms rebounded in the third quarter as easing coronavirus restrictions lifted sales but lingering uncertainty over the pandemic thwarted a return to business-as-usual, a Thomson Reuters/INSEAD survey showed.

FILE PHOTO: People wearing face masks following the coronavirus disease outbreak walk at a shopping mall in Hong Kong, China July 20, 2020. REUTERS/Lam Yik/File Photo

“We’re recovering with a large dose of uncertainty,” said Antonio Fatas, an economics professor at global business school INSEAD in Singapore. Some 28% of companies in the third quarter were positive about their outlook, the survey showed, up sharply from 7.6% in the second quarter. About 60% of the firms polled said they did not hire or lay off people this quarter, in contrast to the second quarter’s survey in which 63% said they had cut jobs.Companies polled included Australia-listed Oil Search, Indian motorcycle maker Hero MotoCorp and Japanese car maker Suzuki Motor Corp.

Indeed, some investors are shunning Asia’s riskier, high-yielding markets, despite the ample liquidity pumped into the financial system by central banks globally this year.

 

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Guess a short sharp lockdown is better for the economy than seesawing in the West.

If realDonaldTrump reacted as well as most countries to COVID19, the US would be doing better too! We shouldn't always be judged just for having an incompetent leader that fucks his own daughter!

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