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China's investor confidence rises

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BEIJING, Oct. 8 (Xinhua) -- China's investor confidence rose to a 7-month high in September due to signs of stabilizing in the economy and improved confidence in market prospects, according to a survey in Tuesday's China Securities Journal.

According to the survey conducted by China Securities Investor Protection Fund Corporation, September's Investor Confidence Index stood at 58.5 on a scale of 100, representing optimism among investors and up 17.71 percent month-on-month, or 24.73 percent year-on-year.

The domestic economic fundamentals index rose 18.9 points from the previous month to 65.8 points, the survey showed, citing upbeat major economic indicators, including consumer price, producer price and purchasing managers' indices, that all point to a firming economy.

The momentum of economic recovery is expected to continue for a few quarters to come and confidence of investors will be boosted accordingly, Rising expectations of reform and economic transformation will further boost China's A-share market.

Investors also grew more optimistic about large cap stocks, with all four sub-indices increasing from August. A total of 41.5 percent of investors surveyed said they expected the Shanghai composite index to rise in the following month, substantially up from 30 percent in August.

The survey also indicated improved confidence in the international economy and financial environment, but the index remained below the demarcation line of 50 as challenges surfaced in the United States employment and property markets and in federal government fiscal policy.

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