BENGALURU: Business sentiment among Asian firms rebounded in the third quarter as easing COVID-19 restrictions lifted sales but lingering uncertainty over the pandemic thwarted a return to business-as-usual, a Thomson Reuters/INSEAD survey showed on Wednesday .
"If it was just because of Asia, I think the numbers would be more positive but the reality is the world is not just Asia," he said, pointing to greater uncertainty in Europe and the United States.The United States has reported the greatest number of COVID-19 fatalities, while rising numbers in Europe are now threatening to shut down parts of the continent again.
Companies polled included Australia-listed Oil Search, Indian motorcycle maker Hero MotoCorp and Japanese car maker Suzuki Motor Corp.READ: Companies in Singapore see lasting benefits of hiring locals, but say a fully-local workforce is not possibleWhile countries in Asia have had mixed success in containing the coronavirus and its fallout on their economies, the Asian Development Bank expects output in the region to shrink for the first time in nearly six decades this year.
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.