PH posts net portfolio inflows in November

Reuters

Posted at Dec 18 2014 09:27 PM | Updated as of Dec 19 2014 06:26 AM

MANILA - The Philippines posted a net portfolio inflow of $369 million in November, the first in three months, the Bangko Sentral ng Pilipinas (BSP) said.

"Net portfolio inflows in November were a turnaround from net outflows in October and September as stock market investments rose due to an initial public offering of a retail company, additional listing of shares of a gaming firm and top-up offering of a holding corporation's shares," the central bank said in a statement.

Gross portfolio investments in November reached $1.79 billion against gross outflows of $1.42 billion.

Investments in equity securities yielded net inflows of $446 million, but transactions in bond markets yielded net outflows of $113 million against net inflows of $42 million in October.

The UK, the United States, Singapore, Luxembourg and Malaysia were the top five investor countries in November. The United States continued to be the main destination of outflows, receiving 72.1 percent of total.

Registration of foreign investments with the central bank is voluntary, but is required if investors want to buy foreign currency to be sent out of the country.