Coordinated Portfolio Investment Survey - 31 December 2025

MACAU, June 29 - According to the statistics released today (29 June) by the Monetary Authority of Macao, on 31 December 2025, investment of Macao residents (including individuals, the government and other legal entities but excluding Macao SAR’s foreign exchange reserves) in securities issued by unrelated non-residents reached MOP1,398.0 billion at current market value, representing increments of 6.3% and 16.1% when compared with end-June 2025 and end-2024 respectively. Among the various instruments of portfolio investment, the market values of equity securities (including mutual funds and investment trust units), long-term debt securities and short-term debt securities increased by 12.1%, 16.1% and 25.4% from end-2024 to MOP354.8 billion, MOP871.3 billion and MOP171.9 billion respectively.

By geographical distribution, the Asian region continued to occupy the largest share of Macao residents’ external portfolio investment, at 42.3%. The rest was mainly placed in North America (24.6%), Europe (16.6%), the North Atlantic and Caribbean (10.6%) and Oceania (2.3%).

Investment in securities issued by entities in the Chinese mainland (including those securities listed on exchanges outside the mainland) continued to assume the leading position, occupying 25.0% of Macao residents’ external portfolio investment. Its market value increased by 1.9% from end-2024 to MOP349.5 billion; of which, the investment consisted of MOP59.3 billion in equity securities, MOP182.6 billion in long-term debt securities and MOP107.6 billion in short-term debt securities, taking up 16.7%, 21.0% and 62.6% of the respective total. Concurrently, the share of investment in securities issued by Hong Kong SAR entities rose from 8.9% to 10.1% while the corresponding market value increased by 31.2% to MOP141.2 billion; of which, equity securities and long-term debt securities amounted to MOP48.5 billion and MOP57.9 billion respectively.

The market value of Macao residents’ investment in securities issued by entities in the United States increased by 27.1% from end-2024 to MOP318.1 billion while its share in total external portfolio investment stood at 22.8%.

Investment in European securities rose by 9.9% to MOP231.5 billion in market value from end-2024 with a share of 16.6%. Among the European countries, the portfolio investment in Ireland, Luxembourg and the United Kingdom took up larger portions, equivalent to MOP64.8 billion, MOP45.9 billion and MOP44.0 billion respectively.

The market value of Macao residents’ portfolio investment in the North Atlantic and Caribbean increased by 7.2% from end-2024 to MOP147.7 billion, representing 10.6% of total external portfolio investment. Within this total, the market value of portfolio investment in the British Virgin Islands and the Cayman Islands reached MOP72.2 billion and MOP71.4 billion respectively.

The market value of Macao residents’ portfolio investment in Belt and Road Initiative countries (excluding China) increased by 30.0% from end-2024 to MOP127.8 billion, equivalent to 9.1% of the total. Meanwhile, the market value of portfolio investment in Portuguese-speaking countries rose by 12.1% to MOP1.1 billion, which was placed in securities issued by entities in Portugal and Brazil respectively.

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.