Asia business sentiment falls in Q4 amidst upbeat sentiments in China, India - Economic Times

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"The companies appear to be upbeat on the expectation that overseas demand for Chinese exports will improve. Hopes stemming from the government's reform measures announced in Q3, and rising income levels that could drive spending, are also causes for positive sentiment," said Cui Hongmei, a China market analyst at Seoul-based Daewoo Securities Co.

India's bullish outlook also supported the index, with a fourth-quarter score of 82 compared to 67 in the previous quarter as improving manufacturing conditions in the 1.3 billion-strong country shrunk the trade deficit by 23 percent between April-November 2013.

RISING COSTS WEIGH ON DEFENSIVES

Broken down by sector, builders in Asia were the most bullish with a maximum reading of 100 for the second consecutive quarter, followed by pharmaceuticals and property sectors with readings of 75.

Defensive sectors such as food and retail were both down from the previous quarter to readings of 50, as companies cited rising costs as their biggest risk.

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