MANILA, Philippines—So-called hot money investments in the Philippines yielded net inflows of $439 million in October after seven straight months of net outflows that started in March, according to the Bangko Sentral ng Pilipinas (BSP).
Data provided provided by the regulator showed that the positive figure came as gross inflows of $1.4 billion outpaced the $913 million gross outflows for October.
This was also the reversal of net outflows of $494 million in September.
The central bank said nearly half, or 46.1 percent, of investments in listed securities in October were for shares of an information technology company that recently had its initial public offering. The BSP was …
Keep on reading: Full-year investment flows in PH still in the red even after push from IT firm’s IPO