Switch to short-term investment

PUBLISHED : Saturday, 31 January, 1998, 12:00am
UPDATED : Saturday, 31 January, 1998, 12:00am

People are switching from local long-term investments to putting their savings in the bank or making short-term investments, says a Hong Kong University poll.

Research showed that 27.5 per cent of 517 respondents questioned in December - 5.7 per cent more than in November - were looking to the shorter term.

The number of people who wanted to make long-term investments in Hong Kong dropped from 47 per cent in November to 42.4 per cent.

The survey, by the university's Social Sciences Research Centre, showed 50.2 per cent of the respondents expressed dissatisfaction with the economy - a sharp rise compared with 27.3 per cent in October.

The number of people concerned with economic problems rose from 33 per cent in October to 55.2 per cent last month, while concern for social problems dropped from 53.5 per cent to 28.2 per cent.

Political problems were the area people showed least concern with. Only four per cent expressed any interest.