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Hot money back

Registered foreign portfolio investments, or “hot money,” in February posted a net inflow of $58 million, a reversal of the $130-million net outflow in January but lower compared with the $1.2-billion net inflow a year ago, latest data from Bangko Sentral ng Pilipinas showed.

Gross inflows in February reached $1.06 billion, lower than $2.54 billion a year ago, while total outflows stood at $1.011 billion, down from $1.359 billion for the same period last year.

“Outflows for the month grew by 6.4 percent from the January figure due to profit taking, lingering concerns on the slowdown of the Chinese economy, and oil price uncertainties. Year-on-year, however, outflows declined by 25.6 percent,” Bangko Sentral said.

About 77.1 percent of investments registered in February were in securities listed in the Philippine Stock Exchange, mainly holding firms, food, beverage and tobacco companies, property issues, banks and telecommunication stocks, while the 22.9 percent balance were in peso government securities.

Topics: Hot money , Registered foreign portfolio investments
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