February’s inflows were traced to a 56.3-percent expansion, to $412 million, in non-residents’ net placements in debt instruments issued by local affiliates or intercompany borrowings. Net equity capital inflows also grew by 55.4 percent to $96 million as equity capital placements of $114 million more than offset the $18 million in withdrawals. “Equity capital placements came mostly from Hong Kong, the United States, China, the Netherlands, and Japan,” the central bank said. Net FDI inflows in the first two months of the year, the BSP said, were driven largely by 10 percent growth in net placements in debt instruments to $793 million. Net investments in equity capital reached $569 million from $120 million in the comparable 2017 period on account of the combined effect of higher equity capital placements ($645 million from $150 million) but higher withdrawals ($76 million from $30 million).

Source: Manila Times May 10, 2018 16:30 UTC