华南新闻中心 臧倩 发自香港

South China news center ZangQian from Hong Kong

　　和讯网消息 2012年7月16日，香港摩根资产管理发表“摩根投资者信心指数”2012年第二季度的调查结果，显示投资者的信心由2012年3月的118点跌至6月的103点，环比下降13%，为近两年来的最低点。

HeXunWang news July 16, 2012，Hong Kong Morgan asset management published“Morgan investor confidence index”The second quarter of 2012 of the survey results，Display investor confidence by March 2012 118 points in June fell to 103 points，Annulus comparing fell 13%，For nearly two years to the lowest point。

　　根据摩根的调查，投资者于上季度的乐观情绪未能在今个季度延续，所有分类指数均出现全线下跌。其中“全球经济环境”分类指数跌幅最大，由三月的110点跌至六月的89点，反映投资者对环球经济持悲观态度。“增加投资金额意欲”分类指数由上季度的111点下跌至102点，“香港经济环境”分类指数则由117点下降至104点。而“个人资产升值”分类指数和“香港投资市场气氛”分类指数分别由122点和119点下跌至相同的105点。“恒生指数”分类指数由131点下跌至今季度的114点，为近两年以来的新低。

According to the investigation of the Morgan，Investors in the last quarter of optimism in this quarter to continue，All classification index all appear fallen。Among them“Global economic environment”Classification index dropped is the largest，The March 110 points in June fell to 89 points，Reflected investors' pessimistic attitude on the global economy。“Increased investment amount to”Classification by the last quarter of 111 index points down to 102 points，“Hong Kong economic environment”Classification by 117 points in the index has dropped to 104 points。and“Personal assets value”Classification index and“Hong Kong investment market atmosphere”Classification index by 122 points respectively and 119 points down to the same 105 points。“The hang seng index”Classification index fell by 131 points so far quarter of 114 points，For nearly two years since the new lows。

　　此次摩根投资者信心指数共在2012年6月1日至6月26日间调查了512名投资者，他们都有5年以上的持续投资经验，最少拥有10万港元的流动资产，及在过去12个月内投资过各种零售投资产品。

The Morgan investor confidence index were in June 1, 2012 to June 26 th investigated 512 investors，They all have 5 years of continued investment experience，At least 100000 hk dollar of liquidity，And in the past 12 months have all sorts of retail investment investment products。

　　回溯此前的摩根投资者信心指数，除2008年第三季度至2009年第一季度指数低于100中位数下以外，此后一直维持于110以上，仅在2011年第四季度低见105，仍高于此次调查的数据，显示投资者对环球经济的信心堪忧。

Back in the previous Morgan investor confidence index，Except in the third quarter of 2008 to 2009 in the first quarter was lower than 100 median outside under，Since then has remained in more than 110，Only in the fourth quarter of 2011 low see 105，The investigation is still higher than the data，Show investors on the global economy of confidence in danger。

　　在香港本地市场方面，投资者的信心仍然受到香港楼市及股票市场泡沫爆破的忧虑所影响，分别有67%和66%的接受调查者认为楼市泡沫和港股泡沫是2012年下半年最大的风险。此外，接近61%的投资者担心主要由食品及租金所带动的通胀问题。另一方面，香港及中国内地潜在经济增长放缓亦影响三分之一投资者的投资策略。

Local market in Hong Kong，Investor confidence by Hong Kong's property market still and stock market bubble burst the anxiety that influence，There were respectively 67% and 66% of the respondents said the housing bust and accept the stock bubble is the biggest risk for the second half of 2012。In addition，Close to 61% of the investors worried that mainly by the food and rent which is driven by inflation problem。On the other hand，Hong Kong and mainland China potential economic slowdown also affect a third of the investment strategy。

　　摩根资产管理市场策略师谭慧敏表示，由于目前市场冒险意欲已低于平均水平，加上股票有轻微超卖迹象，预期市场将有短期反弹，因此摩根正策略性地增持股票。具体板块方面，看好地产股未来的表现，主要原因是目前地产股无论是从市盈率或是净资产角度考虑，估值都已经偏低，未来存在反弹空间。

Morgan asset management market strategists TanHuiMin said，Because the present market risk to already below the average level，Add stock have mild super sell sign，The anticipated market will have a short term rally，So Morgan is strategically take stock。Specific plate aspects，Property counters were promising future performance，The main reason is the property counters were either from the view of net assets or p/e ratio，Valuations are low，The future existence rebound space。