WELLINGTON/BANGKOK (Reuters) - Business sentiment at Asia's top companies fell in the second quarter, hitting its lowest since the third quarter of 2010 as rising costs and growing doubts over the strength of the global economy weighed, a Reuters survey showed.
The Reuters Asia Corporate Sentiment Index fell to 71 from 80 in the first quarter of 2011, which was the highest level since Reuters began collecting data in June 2009. An index above 50 indicates a positive outlook.
The index was compiled between June 2-10 from a poll of 100 executives at Asia's top companies from a range of sectors including autos, financial, technology, resources and property.
Responses from Japan showed overall sentiment neutral. But many firms were wary over the lingering impact of March's earthquake, tsunami and subsequent nuclear crisis, with factors such as political instability, delays to reconstruction and power shortages cited as reasons for concern.
Global economic uncertainty was named as the biggest risk to the business outlook across Asia, followed by rising costs, including oil prices.
China and India remained the most optimistic countries in the Asia-Pacific region, however sentiment eased slightly in both countries.
The resources sector was the most upbeat on the back of high commodity prices, while sentiment was also positive in the financial and retail sectors, but weaker in the technology sector....
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