UK, US biggest sources of investments in April
April hot money flows remained positive for the second straight month.
Foreign portfolio investments reached $279 million last month, more than five times the $51.5 million recorded in April 2017, according to the Bangko Sentral ng Pilipinas (BSP).
The surge came as registered investments amounted to $1.4 billion versus outflows worth $1.1 billion.
“About 82.2 percent of investments registered during the month were in PSE-listed securities (pertaining mainly to banks, holding firms, property companies, food, beverage and tobacco firms, and retail companies), while the balance went to peso government securities,” the BSP said in a statement.
The United Kingdom, United States, Hong Kong, Singapore, and Luxembourg were the biggest sources of foreign funds, accounting for 76.6 percent of the total inflows.
Bulk of the outflows went to the US.
Year-to-date hot money investments settled at a $1.2-billion net inflow.