REGISTERED foreign portfolio investments in June reached US$2 billion, higher by 35.8 percent and 11.4 percent than the $1.5-billion figure in May and the $1.8 billion a year ago. This may be attributed to positive investor sentiment relative to the anticipated resolution of the conflict in Marawi City, accelerated net foreign buying, and approval by Congress of the first tax reform package. Overall, transactions for June 2017 yielded net inflows of $80 million.
However, the figure is lower compared to $451 million in June last year. On a year-to-date basis, transactions resulted in net outflows of US$461 million, in contrast to the net inflows of US$594 million for the same period last year due to certain developments, such as the closure order for several mining companies. (BSP)
Published in the SunStar Cebu newspaper on July 17, 2017.
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