The Japan External Trade Organisation (Jetro) said yesterday Singapore topped the chart with 13.1, followed by Indonesia with 4.6, the Philippines with minus 4.3 and Malaysia with minus 4.6.

Overall, the monthly survey of Japanese companies and affiliates operating in 12 countries revealed that overall sentiment rose into positive territory for the Asean region, backed by favourable economic conditions in Indonesia and Singapore, while remaining depressed in China, Taiwan and South Korea.

Overall sentiment for the five Asean countries improved this month, with the index gaining 1.5 points and reaching positive territory for the first time in 14 months. It now stands at 1.

Indonesia saw its index return to positive territory for the first time in 15 months, owing to a continued recovery in domestic demand for electric/electronic and transport equipment.

Overall forward sentiment for Asean as a whole declined 3.8 points to 2.8, due to low expectations for increased demand in foreign markets.