Monday, November 29, 1999

Reuters Asia Corporate Sentiment at highest in 5 qtrs

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Asia's top companies are at their most optimistic in five quarters as robust economic growth in the region outweighs concerns about debt problems in Europe and renewed market volatility, a new Reuters index shows.The Reuters Asia Corporate Sentiment Index stood at 78 in the second quarter. An index of above 50 indicates a positive outlook.The sentiment index is at the highest in five quarters when compared with a Reuters' internal study of Asia business sentiment over the past year. Based on that study, the index was at 76 in the first quarter of 2010 and 45 a year ago.Reuters contacted executives at 100 top companies across all key industries in the Asia-Pacific region between June 9-15.Of the 62 respondents, 34 view the six-month outlook as 'positive' and four are 'very positive'. Three companies have a 'negative' outlook. The rest are 'neutral'.That note of optimism among Asia's top companies comes at a time when a debt crisis in the euro zone has clouded the outlook for global growth in the wake of the financial crisis.Asian economic growth has powered ahead in recent months, bolstered by resilient domestic demand and strong growth from China, the world's third-largest economy.(Reporting by Reuters journalists in Asia; Writing by Dhara Ranasinghe; Editing by Jean Yoon)
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