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  1. Join Date
    Jun 2007
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    1,161
    #1
    PH is most positive economy in Asia - survey

    By Anshuman Daga, Reuters
    Posted at 09/18/2013 12:22 PM | Updated as of 09/18/2013 12:23 PM
    SINGAPORE - Business sentiment among Asia's top companies deteriorated in the third quarter, led by businesses in export engines such as China and South Korea, ending three consecutive quarters of improving sentiment, the latest Thomson Reuters/INSEAD Asia Business Sentiment survey showed.

    The Thomson Reuters/INSEAD Asia Business Sentiment Index fell to 66 in the third quarter from 71 in the second quarter when it reached the highest level in more than a year. An index reading above 50 indicates an overall positive outlook.

    However, there are some bright spots in Southeast Asia. The Philippines was the most positive economy with a reading of 100 – the only economy with a top score – compared to its reading of 94 in the second quarter. Australia was the second-most positive with a reading of 79, up from 75.

    Some of the weakest readings came from north Asia's economies of China, South Korea and Taiwan, and regional trading hub Singapore, all of which turned in readings of 50 – highlighting the impact of a stuttering global economy.

    "Asian companies are still maintaining a relatively cautious outlook regarding their earnings growth prospects," said Fan Cheuk Wan, chief investment officer for the Asia-Pacific region at Credit Suisse's private banking and wealth management unit. "It could be partly related to the recent volatility across the emerging economies over the past three months."

    Asian equities, currencies and bonds have taken a beating over the last few months after the U.S. Federal Reserve hinted it would halt its nearly five-year policy of flooding markets with cheap cash.

    "This market volatility also inevitably has an impact on the perception and business sentiment of Asian corporates as they are still assessing the global growth outlook," Fan said.

    The survey showed that shipping and financial sectors were the most negative with a third-quarter score of 50, a sharp drop from the shipping industry's reading of 80 and financials' reading of 78 in the second quarter.

    The poll conducted by Thomson Reuters News in association with INSEAD, a global business and management school, surveyed more than 100 executives in 11 Asia-Pacific countries across sectors including autos, financials, resources, food and retail.

    Of the 90 companies that replied to the poll, held between Sept. 2-13, two-thirds reported a neutral outlook, just less than one-third were positive on their prospects and about 1 percent reported a negative outlook.

    China showed no signs of improvement, with business sentiment staying flat for a third consecutive quarter as all eight companies surveyed said their business outlook remained neutral.

    However, markets have been comforted by the latest batch of economic data, adding to evidence that China may have avoided a sharp slowdown.

    "We do know that Europe continues to struggle and there was a soft patch a few months ago in China," said Craig James, chief economist at Commonwealth Securities in Sydney. "There's also the fact that while there's a recovery underway in the United States, it's somewhat patchy.

    "So I think the export-orientated economies are basically suffering as a result of that," James said. "The good news is more recent data seems to suggest a little bit more momentum returning to some of the major economies and regions but there is a lag in effect."

    As recently as a month ago, investors were worried that China's economy was slipping into a deeper-than-expected downturn. But policymakers have stepped in with measures to steady the economy, from quicker railway investment and public housing construction to introducing policies to help smaller companies with financing needs.

    The survey showed that business confidence was steady in Japan at 63, its highest point since June 2010 among the 20 companies surveyed, which included Canon Inc and pharmaceutical firm Daiichi Sankyo.

    "If we look at forward-looking indicators, we do see quite solid evidence showing that the global growth recovery should be providing support for an improved growth outlook for Asia," said Fan from Credit Suisse.

    Companies in Indonesia were the most negative with a reading of 25, a sharp drop from its second-quarter reading of 100 when it was one of the most positive.

    Indonesian companies are seeing an increase in their borrowing costs, with the central bank's surprise hike in interest rates last week. Wallowing near a 4-1/2-year-low, the Indonesian rupiah is the worst performer in Asia this year among currencies tracked by Reuters, having lost around 16 percent against the dollar.
    PH is most positive economy in Asia - survey | ABS-CBN News

    sana mag tuloy-tuloy.....para uwi na lang ako ng pinas

  2. Join Date
    Dec 2005
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    39,162
    #2
    Great!!!!

    Keep on rolling the dice...

  3. Join Date
    Jul 2006
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    8,557
    #3
    Funny ..... I'm not "feeling" this positive economy ek-ek.

    Maybe I'm not the target market .......

  4. Join Date
    Nov 2005
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    #4
    it's just a business sentiment survey

    not surprising coz pinoys are perpertual optimists

  5. Join Date
    May 2006
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    664
    #5
    studies like these are created by those in the upper echelons to help themselves. numbers don't mean sh*t to the oblivious and happy mang juan and aling maria

  6. Join Date
    Nov 2005
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    45,927
    #6
    top local companies are making more money than they ever did and they see Filipinos still spending like crazy

    naturally their sentiment would be positive

  7. Join Date
    Aug 2013
    Posts
    805
    #7
    I know that the economy is getting better because a higher number of the yuppie working class can afford to buy vehicles. When I first started work even if you decide to put all your salary in car installment it would never be enough. Ngayon marami ang starting salary ay above 20k agad, mostly IT field. Di rin naman magraramp-up ang car industry sa atin if their studies showed that setting up business here is risky, if they projected na high risk ang ROI nila. Ang kulang na lang is decentralize ang investment para makinabang buong bansa. Put incentive for putting up BPO in poor provinces so that some professionals can decide to move out from this overcrowded metropolis of Metro Manila. This in turn would help the economy of that province to grow.

    Sent from my mind using Telepathy 2

  8. Join Date
    Sep 2003
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    25,039
    #8
    In the whole article, one sentence lang na mention ang Pilipinas. Foreigners are buying into the building boom. Cheap kasi mga townhouses/condos dito compared to places like Singapore and Hong Kong... And the travel time from those locations are shorter compared to travelling down EDSA. hehehe.

    MANILA, Philippines - More and more foreigners are buying residential condominiums in Metro Manila, according to real estate service company Jones Lang LaSalle.

    David Leechiu, country head of Jones Lang LaSalle, said many Hong Kong, Singapore and US citizens are buying condominiums here.

    "Interestingly, in the last 12 months, we have been getting clients coming to the Philippines and many of them are on business but they come here and like what they see and are now starting to be property owners for condos. (They are) mainly coming from Hong Kong, Singapore, those are our two big markets, and the US," he said in a press briefing in Makati on Tuesday.

    He noted many foreigners are interested in the high yields they can get for these properties. "They're saying, 'wow, the yield at 5, 7, 8 percent is four times higher than what you can get in the US or in Singapore or Hong Kong.' So they're looking at putting their money down here and just sit on the property and enjoy high yield for the asset," he said.

    To illustrate his point, Leechiu said 500 Singaporeans have bought units at a condominium development near De La Salle University in Taft Avenue, Manila.

    "There's a cluster of buildings there where 500 indvidual Singaporeans have bought property 18 months ago. They made installments and all they're looking to do is get higher returns on their money...That's probably the most interesting trend we're seeing," he said.

    While foreigners are not allowed to own land in the Philippines, they can own condominium units but subject to conditions of the Condominium Act.

    Even "boring" businesses are attracting foreign interest. "We are starting to see more traction in the very un***y and boring businesses. For example, we have heard that there's a new player that's looking to enter the Philippines in the poultry sector. They're not here to grow chickens and export. They're going to grow chickens, import chickens and address the growing demand here," he said.

  9. Join Date
    May 2010
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    499
    #9
    Gaano man tayo ka-"positive" economy, the fact na we are on the tail of all the economies in asia doesn't bring us at par with our neighboring countries..


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PH is most positive economy in Asia - survey