Investor confidence hits 19-month high

Investors are upbeat over the Chinese economy as the China securities market’s investor confidence index hit a 19-month high of 58.6 points in August, up 8.7 percent month on month.

Indicators such as the growth rate of the economy in the first half of the year, private investments and investment in manufacturing performed better than expected, giving investors optimism that China’s macro-economy was on a steady and upward trend, China Securities Investor Protection Fund Corp said in a report yesterday.

The investor confidence index in domestic economic fundamentals stood at 64.8 points, up 9.5 percent month on month. Investors also had confidence the government would unveil economic policies that would boost the stock market, with the sub-index rising 4.8 percent from July to 61.6 points.

Investors also expected yuan-denominated A shares to gain steadily due to the substantial improvement in the real economy. The large-cap optimism index rose 12.6 percent to 60.8 points and the large-cap rebound index grew 5.5 percent from a month ago.