MANILA, Philippines—More short term funds from overseas investors left Philippine financial markets than entered it in March, further widening the hot money deficit since the start of 2021, as worries about the COVID-19 pandemic continued to weigh on fund managers, according to the Bangko Sentral ng Pilipinas (BSP).
At the same time, however, BSP data showed that the net outflows for the first three months of 2021 amounted to only slightly less than a third of the amount that fled the country’s stock, bond and money markets during the same period in 2020.
According to the regulator, registered foreign portfolio investments for March 2021 yielded net outflows of $541 million resul…
Keep on reading: Foreign ‘hot money’ continued exit from PH markets amid pandemic jitters