Singapore firms are Asia’s most pessimistic about business prospects in Q4

Despite a rebound in regional business sentiment.

Local businesses were the least optimistic about their business prospects in the fourth quarter, the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey revealed today.

Domestic pessimism persisted in spite of a rebound in business sentiment across the region. Business sentiment among Asia's top companies rebounded in the fourth quarter to the second-highest level in almost three years, helped by a stronger U.S. economy and a plunge in oil prices.

Singapore clocked in a reading of 50, the lowest possible positive reading on the index. This figure compares unfavorably with an outlook of 81 in Thailand, 67 in the Philippines, and a robust 100 in India.

Chinese firms also recorded a reading of 50, coming in below Japan, which is stuck in recession, at 56.