Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>Philippines>>Economy>>$58M ‘hot money’ exited PHL in August, says BSP
NEWS UPDATES Asean Affairs    September  15,  2017  











$58M ‘hot money’ exited PHL in August, says BSP
 
Foreign portfolio investment or "hot money" registered a net outflow of $58 million in August — a reversal From net inflows recorded a month ago And a year earlier — on the back of hesitancy to invest due to the so called "ghost month," data from the Bangko Sentral ng Pilipinas (BSP) showed.

Central bank data, released Thursday, showed the net outflow last month was down 34.7 percent from $206-million net inflow in July and fell by 46.7 percent from $427 million a year earlier.

Foreign portfolio investment is also called hot money because of the ease by which the fund enters and exits markets.

"This may be attributed to August being considered the 'ghost month'," the BSP said in a statement.

The ghost month started on August 22 and will end on September 19, 2017, supposedly a time for taking a break from making important decisions especially when money is involved as the gates of hell are open and the spirits of the underworld are free to roam the face of the earth.

According the BSP, investors' reaction to the following issues also affected the flow of foreign portfolio investments:

    Rising geopolitical tension between the US and North Korea
    Mixed second-quarter corporate earnings
    Reinvigorated anti-drug campaign of the administration
    Alleged anomalies at the Bureau of Customs

Total outflow last month reached $994 billion, lower by 19.1 percent from $1.2 billion in July and fell by 25.3 percent from $1.3 billion in August 2016.

Transactions from January 2 to September 1, reached a net outflow of $319 million, a reversal from net inflow of $1.97 billion in the same period last year.

"The cumulative net outflows resulted from certain domestic and international developments such as the US air strike in Syria, global terrorist attacks, interest rate hikes by the US Federal Reserve, political turmoil in the US, tension between the US and North Korea, and the closure order for several mining companies in the country," the BSP said.

The bulk or 84.9 percent of investments registered during the month were placed in shares traded on the Philippine Stock Exchange, mainly in banks, holding firms, food, beverage and tobacco companies, property firms, and transportation services companies.

The 15.1 percent balance mainly went to peso government securities.

The United Kingdom, US, Luxembourg, Malaysia, and Hong Kong, were the top five investor countries for the month, with combined share-to-total of 77.7 percent.

The US continued to be the main destination of outflows, receiving 79.9 percent of total remittances.



Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below



 
Today's  Stories                         September 15, 2017 Subsribe Now !
• PHL to release new foreign investment ‘negative list’ before end of 2017 Subcribe: Asean Affairs Global Magazine
• Cambodia gets low marks in ‘human capital’ report
Thua Thien Hue attracts $87 million investment
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• $58M ‘hot money’ exited PHL in August, says BSP
• Khanh Hoa Sanest Beverage earns $10m from IPO
Asean Analysis                  September 15,  2017
• Asean Analysis September 15, 2017
Trump-Najib Meeting Gives Malaysia-U.S. Relations Shot of Adrenaline
Advertise Your Brand

Asean Stock Watch   September 15,  2017

• Asean Stock Watch-September 15, 2017
The Biweekly Update
• The Biweekly Update  September 15, 2017

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com