Asian investors are pessimistic, with confidence dropping for the second time in a row, leaving it around 18.5 points below its March high.
Investor confidence rose slightly in June but sentiment is still weak compared to its February high amid signs of deflation in developed markets and structural slowdown in emerging markets, State Street Associates found.
Asian investor confidence index (ICI) declined by 7.9 points to finish at 96.5.
“The sensitivity in the region to Chinese growth prospects and policy remains pronounced. The recent improvements in indices of leading indicators, together with the quasi-easing brought about by the widening of the yuan’s trading band, may provide some support to risk sentiment going forward,” senior vice president of State Street Global Markets Mike Metcalfe said.
The global ICI, however, rose to 119.5 in June, up 0.9 points from May’s revised stand of 118.6.
North American and European investors are optimistic, with North American ICI rising 2.5 points to 116.4, while European ICI rose 2.6 points to stand at 113.6.
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