Metro Manila (CNN Philippines, September 29) — More foreign portfolio investments left the country in August, the Bangko Sentral ng Pilipinas (BSP) said Thursday.
Registered foreign investments with the central bank recorded net outflows that amounted to $86 million last month, lower than the $103 million net outflows booked in July, the BSP noted in a statement.
Meanwhile, gross inflows in August stood at $792 million, 16.3% higher than in July.
These investments are also known as “hot money,” as they could easily enter and exit the economy, such as shares in the Philippines Stock Exchange and government securities.
Around 76% of the investments were in Philippine Stock Exchange listed securities — particularly in banks, holding firms, property companies, food, beverage and tobacco companies, and electricity, energy, power and water firms.
Meanwhile, the remaining 24% went into peso government securities.
The top five investor countries are the United Kingdom, the United States, Hong Kong, Malaysia, and Luxembourg — making up 82.6% of trade.
