Investor confidence at 2-year high: JP Morgan

Investor confidence at 2-year high: JP Morgan

SINGAPORE - Confidence levels among Singapore investors regarding the local stock market and economy hit two-year highs last month but the bullish mood is likely to have taken a hit since then.

The optimistic outlook was revealed in an online survey of 500 investors by JP Morgan Asset Management, which compiles a bi-annual confidence index.

The index, the sixth issued by the firm, hit 122 in June, the highest since June 2011.

The increase in confidence levels was highest for both the Singapore and global economy with respondents saying they believed the Straits Times Index will continue to do well.

But JP Morgan noted that the survey was done before United States Federal Reserve chairman Ben Bernanke hinted that its massive money-printing programme is likely to start slowing.

Those remarks sparked a sharp correction in stock markets last month.

Even so, local investors have still been putting money in the markets, said Mr Brian Tan, head of fund sales in Singapore at JP Morgan Asset Management.

"It's hard to tell what kind of impact the (Bernanke) speech would have had on sentiment. But inflows have been stronger this year since the start of the year," he added.

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