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Laxman Pai, Opalesque Asia: The State Street Global Investor Confidence Index (ICI) decreased to 70.2 in January, down 9.4 points from December's revised reading of 79.6.
According to State Street Global Exchange, confidence among North American investors worsened, with the North American ICI decreasing from 74.5 to 66.8.
The European ICI decreased by 2.6 points to 90.3 and the Asia ICI decreased by 10.3 points to 100.2, the report said.
"As we progress into 2019, our global Investor Confidence Index reflects a warp-speed deterioration in confidence. While confidence itself is not necessarily at an all time low, this month's unprecedented low level reflects the extraordinary rate of retreat hastily beaten by professional managers," said Kenneth Froot who developed ICI with Paul O'Connell at State Street Associates, State Street Global Exchange's research and advisory services business.
Noteworthy is that this retreat has continued through the third week in January, even as stock prices had over January partially recovered from Christmas-eve lows, he pointed out.
"Clearly, managers are voicing persistent concerns around growth globally and in the nowhere-else-to-go tightening trajectories of US monetary and fiscal policies," Kenneth added.
"What is striking again this month is that while the market narrative focuses on the deteriorating global environment, whether it be weaker data in China or rising recession risks in Europe, investor confide...................... To view our full article Click here
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