Hot money exits Philippines by $340M in July

Foreign portfolio investments or 'hot money' exited the Philippines by $340 million in July, reversing from net inflows of $335 million in June.

The gross outflows amounted to $1.1 billion while gross inflows were at $730 million.

About 64.4% of investments went into Philippine Stock Exchange-listed securities mainly in property companies, holding firms, food and beverage companies, banks, and transportation services.

Investor countries included the UK, US, Singapore, Norway, and Luxembourg with a combined share of 77.1%.