Coordinated Portfolio Investment Survey - 30 June 2022
According to the statistics released today by the Monetary Authority of Macao, on 30 June 2022, 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 MOP1,006.1 billion at current market value, representing a decline of 8.4% from end-2021 or 6.6% 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 MOP331.9 billion, MOP623.6 billion and MOP50.6 billion respectively. As compared with end-2021, the market values of equity securities, long-term debt securities and short-term debt securities dropped by 14.7%, 3.7% and 17.8% respectively.
By geographical distribution, the Asian region continued to occupy the largest share of Macao residents’ external portfolio investment, at 53.8%. The rest was mainly placed in the North Atlantic and Caribbean (16.4%), North America (14.2%), Europe (12.2%) and Oceania (1.6%).
Investment in securities issued by Mainland Chinese entities, including those securities listed on non-Mainland exchanges, continued to assume the leading position, occupying 34.5% of local residents’ portfolio investment outside Macao. Its market value decreased by 12.9% from end-2021 to MOP347.0 billion. The investment consisted of MOP120.5 billion in equity securities, MOP195.1 billion in long-term debt securities and MOP31.4 billion in short-term debt securities, taking up 36.3%, 31.3% and 62.1% of the respective total. On the other hand, the share of investment in securities issued by Hong Kong SAR entities rose from 12.2% to 12.4%; yet the corresponding market value decreased by 6.8% to MOP125.1 billion, of which equity securities and long-term debt securities amounted to MOP52.0 billion and MOP64.3 billion respectively.
The market value of Macao residents’ portfolio investment in the North Atlantic and Caribbean fell by 7.2% from end-2021 to MOP164.6 billion though its share in total external securities investment increased from 16.2% to 16.4%; the market value of portfolio investment in the British Virgin Islands decreased by 3.3% to MOP83.9 billion.
The bulk of investment in North America was placed in the United States. The market value of Macao residents’ investment in US securities decreased by 3.4% from end-2021 to MOP122.6 billion whereas its share in total external portfolio investment rose from 11.6% to 12.2%.
Investment in European securities decreased by 1.2 percentage points to 12.2% in share and by 16.4% to MOP123.1 billion in market value from end-2021. Among the European countries, the portfolio investment in the United Kingdom, Luxembourg and Ireland took up larger portions, valued at MOP30.9 billion, MOP25.1 billion and MOP18.7 billion respectively.
The market value of Macao residents’ investment in countries along the “Belt and Road” (excluding China) decreased by 14.7% from end-2021 to MOP79.9 billion, equivalent to 7.9% of total external portfolio investment. Meanwhile, the market value of portfolio investment in Portuguese-speaking countries was MOP928.6 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.