Investor optimism hits 3-year low
By Wang Yanlin |
July 4, 2012, Wednesday
|
Print Edition
Print Edition
INVESTORS in Shanghai are still optimistic about the future but the confidence level hit a three-year low in the second quarter, a survey showed yesterday.
The Investor Sentiment Index, compiled by the Shanghai University of Finance and Economics, fell to 106.59 points in the April-June period from 115.54 in the first three months of this year.
A reading above 100 indicates optimism, and the opposite points to a lack of confidence.
The index had pointed to a rebound in the first quarter from 108.96 in the final quarter of 2011. But investors turned pessimistic lately on the country's continued economic slowdown and the growing uncertainties overseas, said Xu Guoxiang, program leader and director of the university's Applied Statistics Research Center.
"Shanghai should step up efforts to bolster pillar industries like new-generation information technology, high-end equipment manufacturing and advanced biotechnology," Xu said. "The prosperity of these industries can make investors feel safer for Shanghai's long-term growth."
He added: "Shanghai should continue to make good use of foreign capital and attract foreign investors into services and strategic industries."
Shanghai's gross domestic product grew 7 percent from a year earlier in the first quarter, the slowest in 18 months.
The Investor Sentiment Index, compiled by the Shanghai University of Finance and Economics, fell to 106.59 points in the April-June period from 115.54 in the first three months of this year.
A reading above 100 indicates optimism, and the opposite points to a lack of confidence.
The index had pointed to a rebound in the first quarter from 108.96 in the final quarter of 2011. But investors turned pessimistic lately on the country's continued economic slowdown and the growing uncertainties overseas, said Xu Guoxiang, program leader and director of the university's Applied Statistics Research Center.
"Shanghai should step up efforts to bolster pillar industries like new-generation information technology, high-end equipment manufacturing and advanced biotechnology," Xu said. "The prosperity of these industries can make investors feel safer for Shanghai's long-term growth."
He added: "Shanghai should continue to make good use of foreign capital and attract foreign investors into services and strategic industries."
Shanghai's gross domestic product grew 7 percent from a year earlier in the first quarter, the slowest in 18 months.
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