The consumer confidence index edged up this month, ending two consecutive months of declines, as people shrugged off concerns about the Middle East war that broke out at the end of February, a report released yesterday by National Central University showed.
The index rose 0.17 points month-on-month to 62.47, but is down 5.74 points on an annual basis, the report said.
The report was based on a survey of 3,369 people aged 20 or older from across Taiwan, conducted from April 18 to Tuesday last week, the university said.
Photo: CNA
Six subindices gauge the public’s sentiment concerning the next six months: consumer prices, household finances, economic outlook, job opportunities, stock investments and purchases of durable goods.
This month, the subindex for job opportunities posted the largest increase, moving up 0.82 points from last month to 71, the report said.
The subindex for economic outlook recorded the second-largest gain, climbing 0.4 points to 79.67, followed by household finances, which rose 0.37 points to 76.39, it said.
The subindex on expectations for stock investments gained the least, rising 0.21 points to 23.09, even as the TAIEX continued to notch record highs.
Among those surveyed, 10.5 percent said they plan to invest in stocks within the next six months, compared with 10.4 percent last month, while 87.4 percent said they would stay on the sidelines, down from 87.5 percent, the report said.
The results suggest that many investors are reluctant to chase prices after the TAIEX’s strong rally so far this year, driven by Taiwan Semiconductor Manufacturing Co (台積電) amid an artificial intelligence (AI) boom, with some likely to take profits and wait for a pullback to enter the market, it said.
The TAIEX yesterday briefly climbed above 40,000 points for the first time, closing 1.76 percent higher at 39,616.63.
In contrast, the subindex for consumer price expectations in the next six months edged down 0.08 points to 32.32, reflecting a moderation in inflationary pressures, and the subindex tracking willingness to purchase durable goods also fell 0.68 points to 92.33.
In addition, a gauge for the timing for home purchases decreased 0.27 points to 89.23, the lowest since October last year, reflecting the effects of the central bank’s selective credit controls and lenders becoming conservative in extending new mortgages, according to a survey the university conducted separately with Taiwan Realty Co (台灣房屋).
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