“Hot money” investments in the Philippines yielded net inflows of $439 million in October after seven consecutive months of net outflows starting March this year, according to the central bank.
Data provided by the Bangko Sentral ng Pilipinas (BSP) showed this development was a result of gross inflows of $1.4 billion, which outpaced the $913-million gross outflows for the month.
The figure is also a reversal of the recorded net outflows of $494 million in September.
“About 46.1 percent of investments in [Philippine Stock Exchange, or PSE]-listed securities for the month represented acquisition of shares in an information technology firm, which recently had its initial public off…
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