July foreign portfolio investments surge to 1.1 bln dlrs

MANILA (AFP) - Net inflow from foreign investment in stocks, bonds and other financial instruments surged to a record of about $1.1 billion in July, the central bank said Thursday.
This far exceeds the $121 million made in portfolio investments in July, 2006.

Gross inflows in July 2007 totaled $2.1 billion of which 95 percent went to listed shares in the Philippine Stock Exchange while the rest were invested in peso-denominated government securities, central bank governor Amando Tetangco was quoted as saying.

Capital outflows for the period amounted to about $1 billion.