According to the latest Thomson Reuters/INSEAD survey, business confidence among the Asian companies inched lower from seven-year high for the first time in three quarters.
The sentiment soured on the back of escalating trade tensions between the US and China.
“The Thomson Reuters/INSEAD Asian Business Sentiment Index, representing a six-month outlook from 61 firms, fell to 74 in the second quarter from a seven-year high of 79 in the prior three months. The survey was conducted over June 1-15.
While a reading above 50 indicates a positive outlook, this is the first time the number has dropped since September 2017.”
On Tuesday, the Thomson Reuters/INSEAD Asian Business Sentiment Index, representing the six-month outlook of 67 firms, advanced one notch to 79 for the January-March quarter compared with three months before.