According to the statistics released today (30 November) by the Monetary Authority of Macao, on 30 June 2023, investment of Macao residents (including individuals, the government and other legal entities but excluding Macao’s foreign exchange reserves) in securities issued by unrelated non-residents reached MOP1,073.0 billion at current market value, representing an increase of 6.4% from end-2022 or 7.8% year-on-year. Among the various instruments of portfolio investment, equity securities (including mutual funds and investment trust units), long-term debt securities and short-term debt securities were valued at MOP334.0 billion, MOP658.6 billion and MOP80.4 billion respectively. As compared with end-2022, the market values of equity securities and long-term debt securities rose by 4.0% and 10.4% respectively whereas that of short-term debt securities dropped by 10.9%.

By geographical distribution, the Asian region continued to occupy the largest share of Macao residents’ external portfolio investment, at 47.2%. The rest was mainly placed in North America (18.9%), Europe (15.3%), the North Atlantic and Caribbean (15.2%) and Oceania (1.5%).

Investment in securities issued by Mainland Chinese entities, including those securities listed on non-Mainland exchanges, continued to assume the leading position, occupying 29.9% of local residents’ portfolio investment outside Macao. Its market value decreased by 1.7% from end-2022 to MOP321.0 billion. The investment consisted of MOP103.6 billion in equity securities, MOP171.6 billion in long-term debt securities and MOP45.8 billion in short-term debt securities, taking up 31.0%, 26.1% and 57.0% of the respective total. Although the share of investment in securities issued by Hong Kong SAR entities declined from 10.8% to 10.2%, the corresponding market value increased by 1.0% to MOP109.5 billion, of which equity securities and long-term debt securities amounted to MOP37.3 billion and MOP58.5 billion respectively.

The bulk of investment in North America was placed in the United States. The market value of Macao residents’ investment in US securities increased by 18.1% from end-2022 to MOP175.9 billion while its share in total external portfolio investment rose from 14.8% to 16.4%.

Investment in European securities increased by 1.4 percentage points to 15.3% in share and by 17.2% to MOP164.2 billion in market value from end-2022. Among the European countries, the portfolio investment in Luxembourg, Ireland and the United Kingdom took up larger portions, valued at MOP39.0 billion, MOP37.9 billion and MOP34.1 billion respectively.

The market value of Macao residents’ portfolio investment in the North Atlantic and Caribbean rose by 2.6% from end-2022 to MOP163.1 billion whereas its share in total external securities investment decreased from 15.8% to 15.2%; the market value of portfolio investment in the British Virgin Islands increased by 2.8% to MOP80.3 billion.

The market value of Macao residents’ investment in Belt and Road Initiative countries (excluding China) increased by 11.4% from end-2022 to MOP103.1 billion, equivalent to 9.6% of total external portfolio investment. Meanwhile, the market value of portfolio investment in Portuguese-speaking countries was MOP919.4 million, which was placed in securities issued by entities in Portugal and Brazil.

The compilation of Coordinated Portfolio Investment Survey (CPIS), jointly conducted by the Monetary Authority of Macao (AMCM) and the Statistics and Census Service (DSEC), follows the methodology advocated by the International Monetary Fund.