Business confidence among Asian companies rose in the first quarter to the highest level in seven years, a Thomson Reuters/INSEAD survey showed, as a fresh surge by the Chinese economy offset concerns about rising trade barriers. 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. A reading above 50 indicates a positive outlook. "The improvement is not dramatic but with a historical perspective this is a good reading," said Antonio Fatas, a Singapore-based economics professor at global business school INSEAD. Thailand, the Philippines and Malaysia saw robust jumps in sentiment, showing that many countries in Asia continue to benefit from accelerating global growth. In particular, China has seen exports soar, up 45 per cent in February to mark their fastest growth in three years.
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