According to the statistics released today (29 November) by the Monetary Authority of Macao, on 30 June 2024, 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 MOP1,223.3 billion at current market value, representing an increase of 10.7% from end-2023 or 14.1% 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 MOP372.1 billion, MOP722.1 billion and MOP129.1 billion respectively. As compared with end-2023, the market values of equity securities, long-term debt securities and short-term debt securities rose by 11.0%, 4.1% and 71.1% respectively.
By geographical distribution, the Asian region continued to occupy the largest share of Macao residents’ external portfolio investment, at 45.9%. The rest was mainly placed in North America (19.6%), Europe (18.1%), the North Atlantic and Caribbean (12.2%) and Oceania (1.7%).
Investment in securities issued by Mainland Chinese entities, including those securities listed on non-Mainland exchanges, continued to assume the leading position, occupying 29.7% of local residents’ portfolio investment outside Macao. Its market value increased by 15.5% from end-2023 to MOP363.2 billion. The investment consisted of MOP91.5 billion in equity securities, MOP190.3 billion in long-term debt securities and MOP81.4 billion in short-term debt securities, taking up 24.6%, 26.4% and 63.1% of the respective total. On the other hand, the share of investment in securities issued by Hong Kong SAR entities declined from 10.8% to 9.4% while the corresponding market value decreased by 2.8% to MOP115.5 billion, of which equity securities and long-term debt securities amounted to MOP38.1 billion and MOP53.2 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 13.2% from end-2023 to MOP212.4 billion while its share in total external portfolio investment rose from 17.0% to 17.4%.
Investment in European securities increased by 2.2 percentage points to 18.1% in share and by 26.4% to MOP221.6 billion in market value from end-2023. Among the European countries, the portfolio investment in Ireland, Luxembourg and the United Kingdom took up larger portions, valued at MOP70.7 billion, MOP50.8 billion and MOP34.9 billion respectively.
The market value of Macao residents’ portfolio investment in the North Atlantic and Caribbean dropped by 6.4% from end-2023 to MOP148.7 billion while its share in total external securities investment decreased from 14.4% to 12.2%; the market value of portfolio investment in the British Virgin Islands decreased by 6.3% to MOP74.1 billion.
The market value of Macao residents’ investment in Belt and Road Initiative countries (excluding China) increased by 12.3% from end-2023 to MOP116.6 billion, equivalent to 9.5% of total external portfolio investment. Meanwhile, the market value of portfolio investment in Portuguese-speaking countries was MOP859.9 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.