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Large Portfolio Investment Inflow Recorded Anew

10.27.2000

Bangko Sentral records show that a large foreign portfolio investment net inflow of US$44.7 million was again recorded for the week ending October 20, 2000, almost double the previous week’s net inflow of US$22.6 million.  Based on reports of major custodian banks, inflows totaled US$105.9 million against outflows of US$61.2 million.

Foreign investments in PSE-listed securities and peso bank deposits resulted in net foreign exchange inflows of US$42.5 and US$5.7 million, respectively, which significantly exceeded the net foreign selling of government securities and withdrawals of money market placements amounting to US$3.5 million.  The large net investment in PSE-listed securities reflected bargain hunting by foreign investors, particularly for blue chip stocks.

During the eight-week period covering September l to October 20, 2000, the surplus/net inflow totaled US$136.9 million (resulting from gross inflows of US$438.9 million less gross outflows of US$302.0 million) which favorably compares with the deficit of US$3.3 million for the same period in 1999. For this eight-week period, portfolio investment inflows consistently exceeded outflows except for the week ending September 22 when a deficit of US$21.3 million was recorded.

The net inflow came from the net increase in peso bank deposits (US$69.8 million), net purchases of PSE-listed securities (US$54.1million) and net investments in government securities/ money market placements (US$13.0 million).

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