July net portfolio inflows highest in 17 months
MANILA – Foreign portfolio investment transactions resulted in net inflows of $1.066 billion in July, the highest in 17 months, the central bank said Friday.
Transactions in the seven months to July yielded net inflows of $1.6 billion, more than three times the net inflows recorded in the same period last year, data showed.
More than 80 percent of registered investments in July went into the stock market, while the rest went into government securities.
The United Kingdom, the United States, Singapore, Luxembourg and Hong Kong were the top five investor countries for July. The United States continued to be the main destination of outflows, receiving 79 percent of the total.
Registration of foreign investments with the central bank is voluntary, but is required if investors want to buy foreign currency that is to be sent out of the country. — With Reuters