Asia corp sentiment at highest in 8 qtrs: Poll

Business sentiment at Asia's top companies rose in the first quarter to their highest level in eight quarters, with global economic uncertainty seen as the biggest risk to the positive outlook.

The Reuters Asia Corporate Sentiment Index rose to 80 in the first quarter from 77 in the fourth quarter of 2010 and its highest level since Reuters began collecting data in June 2009. An index above 50 indicates a positive outlook.

The index was compiled between March 4-14 from a poll of 100 executives at Asia's top companies from a range of sectors including autos, financial, technology, resources and property.

The bulk of the 64 responses came before Friday's earthquake and tsunami in Japan, with about eight companies, of which three were Japanese, replying after this.

Some analysts have said the impact of the earthquake could tip Japan's economy, the world's third largest, back into recession. Rebuilding could provide a longer-term corporate boost.

China and India remained the most optimistic countries in the Asia-Pacific region, while sentiment was upbeat in the financial and technology sectors and slightly more cautious in the property sector.

Global economic uncertainty was cited as the biggest risk to the business outlook, while oil prices, rising costs and regulation were seen as other big risks.