Tue, May 21, 2024 page12

• Confidence falls slightly, but still positive: Cathay

  • By Crystal Hsu / Staff reporter
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  The public’s confidence in the economic outlook and stock investment declined slightly this month, but remained positive overall, a survey by Cathay Financial Holding Co (國泰金控) showed yesterday.

  Of the respondents, 34.2 percent expect the nation’s economy to improve in the next six months, while 32.1 percent are anticipating negative twists and 29 percent believe things would remain steady, the survey said after polling 16,543 customers online between May 1 and May 7.

  That was a small retreat from last month, but stayed in optimistic territory, in line with the government’s business climate monitor system flashing “green,” which indicated steady economic growth, the conglomerate said.

  

  People stand in front of an electronic stock board at the Taiwan Stock Exchange in Taipei yesterday. People in Taiwan are confident about the economy and the stock market performance this month, but are more interested in big-ticket purchases, a survey by Cathy Financial Holding Co showed yesterday.

  Photo: CNA

  The respondents are also upbeat about stock investment, although less optimistic compared with last month, after the TAIEX repeatedly hit record highs this month.

  The survey also showed that 41.2 percent of respondents believe the TAIEX would climb higher moving forward, 26.8 percent anticipate corrections, 19 percent expect no changes and 13 percent said they do not know.

  The local bourse has received fund inflows from foreign institutional players and mutual funds featuring quarterly or monthly distributions of cash dividends.

  Taiwan’s exchange-traded fund market increased to NT$2.05 trillion (US$63.59 billion) as of Tuesday last week, posting an average 13.41 percent return for 60 funds this year, government data showed. The volume suggested a 40 percent spike from NT$1.46 trillion at the end of last year.

  The impressive showings came at the cost of savings, such as insurance policies, which Taiwanese use to protect against retirement and old age.

  Of the respondents, 34.4 percent said they would raise stakes in stock holdings, 14.9 percent intended to cut positions and 50.7 percent said they would maintain the status quo, the survey found.

  Most people, 65 percent, said their income would stay the same in the coming six months, while 22.8 percent are looking at wealth gains and 12.2 percent at wealth erosions, the survey said.

  When it comes to employment, 30.4 percent believe the job market would become more difficult going forward, compared with 19.8 percent who think finding jobs would become easier while 42.4 percent had neutral views, it added.

  Despite the backdrop, 33.2 percent showed interest in purchasing big-ticket items, 21.7 percent said they would lower their budget and a relative majority, 45.1 percent, would not change their spending, it found.

  Furthermore, a relative majority of 42.8 percent said that the need to declare personal income this month would not affect their funds or share holdings, the survey said.
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