MANILA, Philippines — Philippine financial markets started 2021 on firmer footing as more short term investments from overseas flowed into the local economy than left it — a reversal from the figure recorded in the same month of 2020 and the large net outflows tallied at the end of last year.
According to data from the Bangko Sentral ng Pilipinas, foreign portfolio investments registered with the agency for January 2021 yielded net inflows of $98 million resulting from the $952 million gross inflows and $854 million gross outflows for the month.
This marked a reversal from the net outflows of $486.1 million recorded in January 2020 and the $524 million in net outflows recorded in…
Keep on reading: Hot money flows to PH markets turned positive in January