CHINA: STILL UPBEAT

n Chinese companies remain upbeat, making China one of the most optimistic countries in Asia for business sentiment

n The two very positive responses came from the financial and retail sectors, which are seen as resilient to a softening global economy

n Chinese firms said rising costs including oil prices, and economic uncertainty were among the biggest risks

n The country grew 9.7% in the first quarter. But with high inflation, economists are monitoring the economy to see whether the central bank?s efforts can cool growth without smothering overall demand

INDIA: LESS BULLISH

n Of the nine respondents, six were positive and three were neutral, less bullish

n Concerns cited included the rising cost of credit and inflation, which are seen as likely to slow India?s economy after the latest data showed a dip in industrial output growth on April

n Coal India, Infosys and builder Larsen & Toubro participated

in the poll

TAIWAN: POSITIVE GROUND

n The two companies polled were both positive about the outlook, with one maintaining a positive view from Q1 poll

n Taiwan last month slightly lifted its economic growth forecast for 2011, forecasting stronger exports on demand for technology products and the benefits of closer business ties with China

SOUTH KOREA: MOSTLY POSITIVE

n Four companies were polled, which included the world?s largest shipbuilder, Hyundai Heavy Industries. Of those polled, three were positive and one was neutral

n There were no negative responses in the latest poll, compared with one in the March quarter

n South Korea?s central bank played down growing concerns about a slowing global economy by raising its benchmark rate by 25bps last week to battle rising inflation risks

AUSTRALIA: SHIFTING DOWN

n Six of 11 companies were neutral about the outlook, two were positive and one was very positive

n The two negative respondents came from the building and property sectors, which see higher costs and higher interest rates as the main risks ahead

n Australia?s economy shrank 1.2% in the first quarter, its biggest decline in 20 years. Its central bank also said most leading indicators suggested the slower pace would continue

in the near term

SOUTHEAST ASIA: MORE CAUTIOUS

n Companies in Southeast Asia were more cautious on the six-month outlook in the latest poll with seven of 17 firms polled voting neutral

n In Singapore, five of the eight companies surveyed were positive about the outlook and three were neutral

n Three Thai firms were neutral with two shifting away from a positive stance in March. Analysts expect Thailand?s upcoming general election to draw a line under five years of political turbulence, but the potential for unrest is high

n Of the three Malaysia firms in the poll, one was negative, one was neutral and one was positive. Companies in the Philippines and Indonesia viewed the outlook as positive

JAPAN: NEUTRAL

n Japanese firms were still feeling the effects of the country?s worst earthquake on record with 15 of 21 respondents viewing the outlook as neutral, one viewed the six-month outlook as very negative

n Japan was the only country in the poll with a company expressing a very negative on the outlook. The pessimistic view came from a drugmaker, which said economic uncertainty was the biggest risk

n Companies said however they expect the economy to improve in the second half as exports and production pick up and domestic spending increases to rebuild after the disaster