Foreign funds left the Philippine stock and debt markets for the seventh consecutive month in September, data from Bangko Sentral ng Pilipinas show.
Foreign portfolio investments, also called hot money, posted a net outflow of $323 million in September, slightly lower than the $324-million net outflow recorded a year ago.
They were also lower than the $543-million net outflow in August this year.
Gross inflows reached $1.367 billion in September, while outflows hit $1.691 billion.
“Outflows rose to $1.7 billion [or by $33 million] from the previous month’s level due to profit taking and continued concerns on the slowdown of the Chinese economy and its impact on the global market,”
Bangko Sentral said in a statement.
This brought total net outflow in the first nine months to $413.9 million, lower than the $853-million net outflow registered a year ago.