SHORT-TERM foreign investments turned negative in October after three straight months of net inflows, the Bangko Sentral ng Pilipinas (BSP) reported late on Friday.
SHORT-TERM foreign investments turned negative in October after three straight months of net inflows, the Bangko Sentral ng Pilipinas reported late on Friday.Foreign investments registered with the central bank through authorized agents — also known as 'hot money' because these can be moved quickly elsewhere to maximize profits from interest rates — reversed to a net outflow of $529.68 million from September's $1.03-billion net inflow.It was also higher than the $328.
October's hot money inflows mostly went to Philippine Stock Exchange-listed securities particularly banks; holding firm; transportation services; property; and food, beverage and tobacco, while the rest was invested in peso government securities .The bulk of the short-term investments, or about 87.8 percent, came from the United Kingdom, Singapore, the US, Luxembourg and Malaysia.Year-on-year, inflows were 55.1 percent higher than the $954.
Money Flows Turn Negative Risks Tagged
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