MANILA - Foreign portfolio investments fell in June amid investor concerns on inflation and the further weakening of the peso, and after the U.S. Federal Reserve moved to raise interest rates, the Bangko Sentral ng Pilipinas (BSP) said Thursday.
June recorded net outflows of $516 million, more than twice the $206 million posted in May, according to BSP data.
The BSP said total registered foreign investments in Philippine stocks and government securities amounted to $911 million in June, or 54.8 percent lower compared to the same month in 2017.
Investors, the BSP said, also reacted to the continuing trade war between the U.S. and China.
"The U.S., United Kingdom, Singapore, Hong Kong, and Switzerland, were the top five (5) investor countries for the month, with combined share to total at 82.5 percent," the central bank said.