Stock market investors' confidence hits new high in August: Survey

Investors look at an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, Sept 12, 2017.[Photo/IC]

Chinese stock market investors' confidence has risen to the highest level since January 2016, showing obvious upward momentum in August, according to a survey released on Monday.

Conducted by China Securities Investor Protection Funds Corp Ltd, the survey found that confidence index stood at 58.6 in August, a new high since January 2016 and up 8.7 percent from last month.

Investors continue to have confidence in domestic economic policy, the survey showed. The sub-index for domestic economic fundamentals rose 9.5 percent from the previous month to 64.8.

Meanwhile, investors are more optimistic about overseas market. The launch of the Bond Connect has created enthusiasm of foreign capital, with the sub-index for international economic and financial condition standing at 55.8, up 12.3 percent from last month's 49.7.

About 21.8 percent of investors expect the international economic and financial condition will have positive effect on China's stock market over the next three months, 12 percent think it would have negative effect, while 49.7 percent expect little change.

The sub-index on willingness to buy stocks saw the biggest rise last month, jumping 13.7 percent to 52.2 in August. It's also the first time that the index has stayed above 50 since November last year.

Nearly 28.2 percent of investors expect the benchmark Shanghai Composite Index to rise in September, 52.8 percent predict it will stay flat, while 8.5 percent think the index will fall, according to the survey.

Furthermore, 15.1 percent of investors plan to increase their stock investment over the next three months, 11.4 percent plan to reduce, while 54.2 percent expect to maintain the same level.