Foreign portfolio investments, or hot money, posted net outflows of $86 million in August, a reversal from the $12-million net inflow a year ago, as global uncertainties continued to impact financial markets, the Bangko Sentral ng Pilipinas said Thursday.
The August net outflows were lower than the $103-million net outflows registered in July. This resulted from the $878-million gross outflows and $792 million gross inflows for the month.
The $792-million registered investments in August were 16.3 percent or $111 million higher than the $681 million in July. Majority of investments or 76.0 percent of the total were registered in Philippine Stock Exchange-listed securities, mainly in banks; holding firms; property; food, beverage and tobacco; and electricity, energy, power and water.
The balance went to investments in peso government securities (24.0 percent) and other instruments (less than 1 percent). Investments in August came largely from the United Kingdom, the United States, Hong Kong, Malaysia and Luxembourg with a combined share of 82.6 percent. Julito G. Rada
