MANILA - The Philippines booked $227 million in net inflows of foreign portfolio investments in November, the Bangko Sentral ng Pilipinas said on Monday.
Also called "hot money" for the ease with which they enter and exit an economy, portfolio investments refer to the purchase of securities such as stocks and bonds on an exchange.
This is in contrast to foreign direct investments which go to building or buying businesses and their hard assets.
Around 68.1 percent of the gross portfolio inflows went to PSE-listed securities, while the 31.9 percent balance went to peso-denominated government securities.
Top investor countries were the UK, Singapore, the US, Hong Kong, and Norway. They contributed 82.4 percent of total investments.
However, year to date until November, the BSP said the country had $3.7 billion in net outflows of hot money.
The BSP said this was due to uncertainties brought about by the COVID-19 pandemic, geopolitical tensions, certain corporate governance issues, and extended quarantine measures in select regions in the country.