Asia is poised for economic rebound: investment bank

Asian economies are poised for a rebound amid stronger signs of a pick-up in the US and Japan, an investment bank report said yesterday.

Citigroup Smith Barney has raised its GDP forecasts for the year to reflect stronger trade flows and the rebound from the SARS outbreak.

"Stimulative financial conditions are boosting US demand and favor a solid economic pick-up in coming quarters," Citigroup said in its report, The Long-Awaited Rebound.

This year's GDP forecast for the Asia-Pacific edged up from 4.9 percent to 5 percent on the back of expected improvements in Taiwan, India and Hong Kong.

Hong Kong is forecast to demonstrate the biggest jump of 0.7 of a percentage point to 1.7 percent.

Singapore, however, is the only Asian country to be downgraded.

Its GDP forecast slashed to 0.5 percent from 2.4 percent.