The Asian ICI increased by 6.1 to 100.8, and the North American ICI increased by 1.7 points to 97.2.
The index shows that investors are showing more appetite for risk.
The ICI, which was developed by Kenneth Froot and Paul O’Connell at State Street Associates, measures investor confidence by analysing institutional investors’ buying and selling patterns. The greater the percentage allocation to equities, the higher risk appetite or confidence. A reading of 100 is neutral.
Rajeev Bhargava, managing director and head of investor behaviour research at State Street Associates, added: “We seem to be witnessing a sense of confidence in Europe after two years of subdued risk appetite. Improving European economic growth, subsiding political uncertainties, and the European Central Bank’s accommodative policies are possibly feeding into stronger enthusiasm.”