The net outflows of short-term foreign investments or “hot money” registered with the Bangko Sentral ng Pilipinas shrank by 54 percent to $124 million in May from $270 million in the same month last year, according to the BSP. | RonWDomingoINQ /PDI
Meanwhile, gross inflows jumped by 18.5 percent from $713 million in April.
Of the amount that flowed in last May, 69.7 percent was invested in Philippine Stock Exchange-listed shares while 30.3 percent was invested in government securities. For inflows into PSE-listed securities, these mainly went to shares in companies that are engaged in banking; food, beverage and tobacco; those operating as holding firms as well as those in the business of property; and transportation services.
Of the gross inflows, 86.6 percent came from the United Kingdom, United States, Singapore, Luxembourg, and Hong Kong. The latest monthly data brought the January-May balance to net outflows of $805 million, also a reversal from net inflows of $1.1 billion in the same five months of 2022.Subscribe to our daily newsletter
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