Local stocks drew large ‘hot money’ inflows in February

The flow of so-called "hot money" into the Philippine economy swung to positive in February reversing a large outflow in the same period last year, and boosting the year-to-date amount of fast-moving investments, most of which were channeled into the local stock market. According to data from the Bangko Sentral ng Pilipinas, last month saw net portfolio investments of $339.7 million in the domestic financial markets by overseas investors. This compares favorably to the $528.5 million in outflows recorded in February of last year. More importantly, last month's performance boosted total inflows of portfolio investments to $1.15 billion in the first 12 weeks of 2019, representing a 4...

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