Investors bullish on business prospects: survey
By Cheryl Tay:
Singapore investors are now more upbeat about their investment outlook than they were six months to one year ago, a sign that the rally in the country's bourse may continue in the coming months, revealed a survey by JP Morgan Asset Management.
The JP Morgan confidence index, which is conducted every six months, rose to 106 from 101 during the previous survey and 86 last year. A reading below 100 indicates pessimism, while a reading over 100 signifies optimism.
"This is no doubt influenced by the progress we have seen over the past six months where the risk of a financial meltdown in Europe is largely reduced," said Andrew Creber, Head of Singapore business at JP Morgan Asset Management.
The Straits Times Index (STI) also rose 1.5 percent since 1 January 2013, on the back of signs of a rebound in China and the US government's last-minute deal to avoid the fiscal cliff. Notably, the STI soared by nearly 20 percent compared to last year's.
JP Morgan's survey included questions on whether the investor expects a gain in the STI, an improvement in the local and the global economic situation as well as in the investment market. Investors were also asked if they foresee an appreciation in their investment portfolio and whether they plan to invest more. Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email cheryltay@allproperty.com.sg Related Stories: Property prices not top concern for companies Brighter outlook for world economy in 2013: report
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