PH FDI plunges 40.5% in August to $494 million

Foreign direct investment (FDI) net inflows in the Philippines slumped by 40.5% in August to $494 million, the lowest in two months.

This decline was attributed to a 73.8% drop in net investments in debt instruments, which fell to $145 million.

However, investments in equity and investment fund shares rose by 26.1% to $349 million in August.

Nonresidents' net investments in equity capital, excluding reinvestment of earnings, more than doubled to $146 million.

Inflows from Japan and investments into the manufacturing sector led the positive FDI in August, according to the Bangko Sentral ng Pilipinas (BSP).