MANILA – The country enjoyed a near tripling of “hot money” inflows at the close of the third quarter, according to data released by the Bangko Sentral ng Pilipinas.
In a report, the BSP said net inflows of foreign portfolio investments hit $407 million in September, 5.2 percent higher than the previous month and 171.5 percent more than a year ago.
Gross investments reached $1.5 billion, up 20.4 percent from August and 8.9 percent from September last year. They came mostly from Hong Kong, the US, United Kingdom, France and Luxembourg. Gross outflows reached $1.1 billion, up 27.2 percent month-on-month.
Foreign money that flowed into the stock market was invested in food and beverage firms, telecom companies, property developers, banks and holding companies. Bulk of foreign money that stayed in the country in September was invested in stocks of listed Philippine companies and in government debt papers.
The BSP ascribed the increase in gross inflows to news of the European Central Bank’s plan to buy more bonds of distressed euro zone countries, Spain’s plan to trim its budget and the US Federal Reserve’s third round of quantitative easing. –InterAksyon.com
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of Forced Labour and Freedom of Association protocols.
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