Reuters / INSEAD survey: Asian Business Sentiment Index hits three-year highs

The latest Thomson Reuters / INSEAD survey, the Asian Business Sentiment Index hit a three-year high on the back of upbeat Asia-pac economic fundamentals and calming fears over China slowdown.

Key Points via Reuters:

The Thomson Reuters/INSEAD Asian Business Sentiment Index .TRIABS RACSI, representing the six-month outlook of 101 firms, climbed to 74 in April-June from 70 three months earlier. A reading over 50 indicates a positive view.

China’s business sentiment subindex stood at 75, up from 72 three months prior.

In nearby Japan, sentiment hit its highest-ever with a subindex of 83 compared with 61 in the previous quarter and an average of 58 in the survey's eight-year life. 

Buoyant consumer confidence and export growth that exceeded initial estimates helped Indonesia's sentiment subindex rise 8 points to 83, its highest in over a year.

Sentiment rebounded the most in South Korea with a 50-point jump in its subindex to 75.

Sentiment also edged up in India and Thailand, but weakened in Australia, Taiwan and the Philippines.

Singapore posted the lowest subindex of 62 - but even that was the strongest lowest subindex the survey has seen since it began in 2009.