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
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
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
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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