So-called “hot money” recorded a net inflow of $206.47 million last month, the biggest since January’s $301.33 million. The net inflow a year earlier was $1.06 billion. The bulk or 90.5 percent of the July’s hot money was invested in Philippine Stock Exchange-listed securities, mainly in food, beverage and tobacco companies, holding firms, banks, property companies, and utilities companies. Transactions in PSE-listed securities yielded net inflows of $224 million, while investments in peso GS resulted in net outflows of $18 million,” the BSP said. Foreign portfolio investments are called “hot money” because of the ease by which these can be invested and taken out of the country.

Source: Manila Times August 17, 2017 16:18 UTC