SSB-tall shows that foreign investors from the third quarter of 2022 to the second quarter of this year sold shares on the Oslo Stock Exchange for almost NOK 57 billion more than they bought them for.
In other words, the net sales of shares on Oslo Børs in the period amounted to almost NOK 57 billion. In the second quarter of this year, net sales amounted to 21.7 billion.
Foreign investors have sold out in every quarter in the past year.
also read
New EU proposal will hit Norway hard: – Absolutely insane
Extremely
– On the one hand, you can say that it is extreme that foreigners sell out for four quarters in a row. It hasn’t happened before. On the other hand, they bought a lot before this. If you look at the total market value of their investments, it is at record high levels, says investment director Robert Næss at Nordea to Nettavisen.
Below we have reproduced foreigners’ net purchase and sale of shares on Oslo Børs since 2012 (quarterly figures). Red columns mean net sales, sales are greater than purchases.
As we can see from the graph, it is only in the last year that we find so many quarters in a row with sales.
Næss says that Statistics Norway’s statistics do not say anything about the types of shares the foreign investors are selling.
also read
Lasse Kjus with a large investment – now the money is gone
Selling out of oil
– But I have checked the oil companies, and they seem to have been net sellers, he says.
Næss says that if you just look at the numbers, there are two ways to interpret them. One is that Norway has gone from being an attractive investment area to becoming less attractive.
– In that case, it could be due to things like the tax discussions. On the other hand, it could be as simple as the fact that the international investors had bought so many shares in Norway that it was natural to take something down.
Investor and manager Jan Petter Sissener says that increased political risk is certainly one reason why the foreigners have pulled out.
also read
Have lost 2.2 billion: – Regrettable
Not on the politicians’ agenda
– Value creation is not on the politicians’ agenda. And when Norwegians move and do not invest, why should a foreign investor do so? asks Sissener rhetorically.
– In addition, we have unattractive companies, a krone that is unpredictable and fluctuates a lot in value. There could be many reasons, he continues.
Equity strategist Anders Johansen at Danske Bank believes the main reason for the sell-offs is
– Foreigners are selling out of typical Norwegian commodity sectors. This is due to both the sectors that have done best this year and uncertainty around global growth. This uncertainty makes Norway vulnerable to foreigners due to the fluctuations.
– Normally, the Norwegian stock market fluctuates a lot with the economy, says Johansen.
2023-08-30 21:00:34
#Foreigners #flee #Oslo #Børs #happened
