^

Business As Usual

Foreign fund managers prefer Phl equities

Ted P. Torres - The Philippine Star

MANILA, Philippines - Foreign funds are trickling into Asian equities, with the Philippines among the most preferred markets in the region, HSBC said in a report.

In the first half of this year, foreign fund inflows amounted to $32.2 billion, surpassing the $24-billion inflows for the whole of 2013, the British banking giant said.

“Funds remain overweight (buying mode) on the Philippines and Thailand, while fund exposure to Hong Kong and Malaysia are at record low levels,” the HSBC report noted.

It said the Philippines received an estimated $1 billion in the first six months of the year, outpacing the $700 million absorbed for the entire 2013.

HSBC said foreign fund managers increased their exposure to China equities to record high levels, making it the most over-owned market in the region, relegating India to second place.

For the first semester, India received $12 billion, followed by $10.2 billion into Taiwan.

Indonesia received $4.9 billion, Korea attracted $4.6 billion, while Thailand reported inflows worth $700 million.

“At the sector level, we prefer financials, consumer discretionary and energy,” HSBC said.

It said foreign funds are overweight on consumer staples, materials and energy, while mostly keeping their hands off telecommunications and information technology.

 

BILLION FIRST FOREIGN FUND FUNDS HONG KONG AND MALAYSIA HSBC INFLOWS PHILIPPINES PHILIPPINES AND THAILAND
  • Latest
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with