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Foreign investors net buyers of listed shares in Q3

The market value of shares listed at the Budapest Stock Exchange (BÉT) rose by some 0.7%, or Ft 45.8 billion (€178.6 million), to Ft 7,044.9 billion during the third quarter of this year, compared to a decline of Ft 619.3 billion in Q2, the National Bank of Hungary (MNB) reported on Wednesday.

A rise in market capitalization generated Ft 34.3 billion of the increase, with four new issuers admitted to the BÉT during the period accounting for Ft 10.1 billion of that amount; one BÉT company conducted a capital increase of Ft 4.2 billion during the quarter, while two shares were delisted, entailing a decline of Ft 6 billion.
Non-resident investors were net buyers of Ft 52.9 billion in shares, while registering holding gains of Ft 3.7 billion. As a result of listings and delistings that amounted to a net value of Ft 4.6 billion, non-residents’ holdings of quoted shares rose by Ft 51.8 billion. Foreigners' share of total holdings rose by 0.3 percentage points to 77.7% in Q3.
The market value of listed shares held by the financial businesses fell by Ft 2.6 billion as a result of Ft 15 billion in sales, Ft 10.9 billion in holding gains and a rise in Ft 1.5 billion in the value of holdings due to listings and delistings. Non-financial businesses sold Ft 16.2 billion in listed shares during Q3, with price losses reducing the value of their holdings by another Ft 19.8 billion. Listings and delistings resulted in an increase of Ft 1.4 billion in the value of the sector’s holdings. As a combined result, non-financial corporations’ holdings of quoted shares fell by Ft 34.6 billion, while their percentage share of the market dropped by 0.5% to 6.1%.
Households were net sellers of Ft 13.8 billion in listed shares, while registering a gain of Ft 16.7 billion. The sector's holdings rose by some Ft 8.8 billion in Q3. Households were direct holders of 4.2% of all shares listed at the BÉT at the end of September, up 0.1% from the second quarter.