FOREIGN investments in local stocks and securities, also called hot money, yielded a net inflow of $4.6 billion in 2010, up 12 times from just $388 million in 2009.
The Bangko Sentral said the 2010 figure was “the highest recorded for the past seven years and surpassing the previous record of $3.5 billion in 2007.”
Data showed that gross foreign portfolio investment inflows more than doubled to $13 billion in 2010 from just $6.3 billion in 2009 while gross outflows rose to $8.39 billion from $5.95 billion.
Investments in shares in the Philippine Stock Exchange with a 65-percent share of the total, jumped 75 percent to $8.5 billion last year from $4.8 billion in 2009.
Contributing to the strong inflows were two major initial public offerings by Cebu Air Inc. and Nickel Asia Corp.
“The bullish stock market performance in 2010 resulted from positive investor sentiment with the assumption of a new administration and strong macroeconomic fundamentals on the domestic front, inspiring greater confidence in the country vis-à-vis sovereign debt concerns in the euro zone, the benign economic outlook for the United States and China, and the effects of the geopolitical risks within the Korean peninsula,” the Bangko Sentral said.
Government securities accounted for $4.5 billion of these foreign funds while peso time deposits and money market instruments posted $503 million in inflows. Placements in peso time deposits grew fourfold in 2010.
Top sources of foreign funds last year were the United States, Singapore, the United Kingdom, Luxembourg and Hong Kong. –Roderick T. dela Cruz, Manila Standard Today
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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