‘Hot money’ surged in April
By Michelle V. RemoForeign “hot money” surged in April as the investment grade assigned on the country served to boost investors’ appetite for peso-denominated stocks and bonds.
Foreign “hot money” surged in April as the investment grade assigned on the country served to boost investors’ appetite for peso-denominated stocks and bonds.
Foreign portfolio investments to the Philippines posted a net outflow in March as concerns over the crisis in the euro zone, punctuated by the debt woes of Cyprus, prompted fund owners to liquefy some of their emerging-market assets.
Foreign portfolio investments to the Philippines posted a net outflow in March as concerns over the crisis in the euro zone, punctuated by the debt woes of Cyprus, prompted fund owners to liquefy some of their emerging-market assets.
The government is set to raise its 2013 projections for foreign direct investments (FDIs), portfolio inflows, and the country’s merchandise imports due to the recent upgrade of the country’s credit rating.
Foreign portfolio investments more than doubled in January as fund owners were encouraged by news that the Philippines could get an investment grade this year, according to monetary officials.
HSBC expects foreign portfolio investments to rise in 2013 as investors ride on the consensus that the Philippines will get an investment grade rating this year.
Foreign portfolio investments in 2012 hit the highest in a decade as the favorable outlook on the Philippine economy boosted demand by foreigners for peso-denominated stocks, bonds and other financial instruments.
The peso inched up on Tuesday amid projections dollar inflows to the country would remain strong in 2013.
The Bangko Sentral ng Pilipinas braces for a possible spike in foreign portfolio investments inflow in the days ahead, which may be brought about by the US Congress’ recent move to prevent the world’s biggest economy from falling into a recession.
PORTFOLIO investments to the Philippines surged in November due to favorable sentiment brought on by the economy’s robust performance. Officials said the Philippines, like a few other emerging markets in Asia, has become the preferred site for foreign investors.
The net inflow of foreign portfolio investments to the Philippines shrunk in October due mainly to profit-taking by equity investors, according to the central bank.
The net inflow of foreign portfolio investments to the Philippines nearly tripled in September after global investors’ appetite rose for securities from emerging markets.
