MANILA, (PNA) — Registered investments for the month of September more than doubled to US$ 2.6 billion from US$ 1.0 billion last month with the resurgence of investor confidence due to positive economic data from China and the easing geopolitical tensions between the United States and Syria.
It may also be recalled that investments in August were low due to hesitancy to invest during the “ghost” month (which the Chinese believe to be unlucky for business) and the shortened trading weeks brought about by holidays, heavy rains and flooding.
Year-on-year, registered investments rose by 72.1 percent from US$ 1.5 billion in 2012 in recognition of the country’s sound macroeconomic fundamentals and record growth levels achieved in the first two quarters of 2013.
Investments in September were in PSE-listed securities (US$ 1.8 billion or 70.6 percent of total), Peso GS (US$ 714 million or 27.5 percent) and Peso time deposits (US$ 52 million or 2.0 percent). For PSE-listed securities, the main beneficiaries were: holding firms (US$ 512 million), banks (US$ 338 million), property firms (US$ 294 million),information technology companies (US$ 279 million), and utilities firms (US$ 126 million).
Although outflows for the month rose to US$ 1.9 billion from US$ 1.4 billion in August, transactions yielded net inflows of US$ 683 million, higher than the US$ 402 million recorded a year ago. This is also a turnaround from the US$ 442 million net outflows last month.
Transactions in PSE-listed securities, Peso GS and Peso time deposits yielded net inflows of US million,US$ 577 million, and US$ 52 million, respectively.
Singapore, the United Kingdom, the United States, Luxembourg and Hong Kong were the top five (5) investor countries for the month with combined share total of 84.4 percent.
The United States continued to be the main beneficiary of outflows from investments, receiving US$ 1.6 billion (or 85.3 percent of total).
Registration of inward foreign investments with the Bangko Sentral ng Pilipinas (BSP) is voluntary.
It entitles the investor or his representative to buy foreign exchange from authorized agent banks and/or their subsidiary/affiliate foreign exchange corporations forrepatriation of capital and remittance of earnings that accrue on the registered investment.