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Jun 14, 2018 @ 16:40

US-China tensions keep foreign investors jittery in May


Foreigners opted to take their money out amid global uncertainties.

Foreign portfolio investments reverted to a $206.35 million net outflow in May, the first in three months.

The outflows came amid market uncertainties, especially in the face of a weaker peso and rising oil prices, the Bangko Sentral ng Pilipinas (BSP) said.

“Outflows for the month of US$1.4 billion were 29.3 percent higher compared to the US$1.1 billion level in April due mainly to investors’ reaction to renewed geopolitical tension between the US and China coupled with continuous net foreign selling of PSE-listed securities since February of this year,” the BSP said in a statement.

Still, five-month hot money flows ended positive at $797.19 million.

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