SHORT-TERM investments made by foreign investors hit the net outflow territory for the third consecutive month in July, the Bangko Sentral ng Pilipinas reported on Thursday.
FPI are known as “hot” or “speculative” money because they are easily pulled in and out of the local platforms in the slight change of global and local sentiment. The BSP said 64.8 percent of investments registered were in listed securities, mainly in holding firms; food, beverage and tobacco; property; banks; and transportation services.Investments for the month mostly came from the United Kingdom; United States ; Singapore; Hong Kong; and Luxembourg with a combined share to total at 84.7 percent.
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