Danmarks Nationalbank
Danmarks Nationalbank
10/28/2025 | Press release | Distributed by Public on 10/29/2025 07:27
Dollar weakness erodes equity gains
Statistical News
Securities
28 October 2025 Statistics period: September 2025
Statistical news focuses on the latest figures and trends in Danmarks Nationalbank's statistics. Statistical news is targeted at people who want quick insight into current financial data.
Dollar weakness erodes equity gains
Since the beginning of the year, the value of Danish households' investments in US equities has increased by kr. 2.4 billion. Rising stock prices have generated gains of kr. 29.5 billion, although this has been largely offset by a currency loss of kr. 27.7 billion due to the weakening of the US dollar in 2025. Measured in dollars, the holdings have increased more significantly, as the negative currency effect does not have an impact. Households have made net purchases of US equities amounting to kr. 0.6 billion during the period. Since 2018, Danish households' investments in US equities have risen by kr. 176 billion. The increase is predominantly driven by stock price gains, with a smaller contribution from net purchases and currency gains. A large portion of the stock price gains is concentrated in seven tech companies, often referred to as the Magnificent 7.
The weakening of the US dollar in 2025 has decreased the value of US stocks measured in Danish kroner
Note:
Danish households' (employees, pensioners, etc.) investments in US stocks measured in Danish kroner and US dollar. Ownership of US stocks through Danish investment funds is included by looking through the funds' holdings. Potential currency hedging of equities by the funds is disregarded. Conversion from Danish kroner to US dollar is based on the monthly end-of-period exchange rate.
Magnificent 7 stocks are gaining increasing prominence
Magnificent 7 refers to seven large US tech companies (Nvidia, Amazon, Apple, Microsoft, Meta, Tesla and Alphabet). These companies' share of households' US stock holdings has increased from 18 per cent at the beginning of 2018 to 39 per cent in September 2025. This development has been driven by rising stock prices. Of the total value increase of kr. 82 billion, kr. 78 billion stems from stock price gains, while the remainder reflects net purchases and losses from exchange rate variations.
Since 2018, households' holdings of US stocks have increased by kr. 176 billion
Note:
Households' (employees, pensioners, etc.) investments in US stocks Ownership of US stocks through Danish investment funds is included by looking through the funds' holdings.
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Danmarks Nationalbank published this content on October 28, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 29, 2025 at 13:27 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]