Equities still held aloft by investors
Print Edition
DOMESTIC equities are considered as the best investment opportunity by affluent Chinese mainland investors this year even as concerns about market volatility and an economic slowdown persist, a global investment survey showed.
Around 79 percent of the mainland high-net worth investors aged 40 years old and above ranked domestic stocks as the best investment opportunity in the next 12 months while 77 percent of young affluent investors aged between 18 and 39 held a similar view, said a survey conducted by Legg Mason, a US-based global investment management firm.
Around two thirds of investors were confident that domestic stocks would rise this year, with the Shanghai Composite Index expected to rise 12.4 percent on average.
The result was compiled as part of a global survey of affluent investors with investable assets of at least US$200,000. The survey was conducted on 5,370 investors across 19 markets, including around 220 on the Chinese mainland.
For older investors, domestic stock market volatility was the top concern while young investors worried most about the economic slowdown in China, the survey said.
But the survey showed that 69 percent of mainland investors this year started to turn conservative, up from 63 percent last year.
There was also a growing appetite for overseas investment as 78 percent of older investors and 87 percent of young ones planned to do so this year, both higher than the global average.
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