Asia optimism fails to dispel equities gloom

Institutional investors' appetite for equities diminished to a record low in December, according to a monthly index of sentiment provided by financial services company State Street, despite an improvement in feeling among Asian fund managers.

The State Street Investor Confidence Index dropped 6.5 points to a record low of 48 from its level in November, according to State Street Global Markets, State Street's investment research and trading arm.

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