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Asian business confidence rebounds sharply, pandemic casts shadow, survey shows | Malay Mail

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BENGALURU, Sept 23 — 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. Asian firms' outlook for the next...

Wednesday, 23 Sep 2020 12:42 PM MYT

Asian firms' outlook for the next six months tracked by the Thomson Reuters/Insead Asian Business Sentiment Index jumped to 53 in the third quarter from an 11-year low of 35 in the second, according to the survey of 103 companies across 11 Asia-Pacific countries.

“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. Companies polled included Australia-listed Oil Search , Indian motorcycle maker Hero MotoCorp and Japanese car maker Suzuki Motor Corp.While 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.

 

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