June foreign portfolio investments hit record

MANILA (AFP) - Foreign investment in stocks, bonds and other financial instruments surged to a record high of $870.8 million in June, the central bank said Friday.

Gross inflows totaled $1.9 billion, of which 1.6 billion dollars were invested in listed shares, mostly in property and holding firms, a central bank statement said.

Placements in peso-denominated government securities accounted for 16 percent of the total while placements in peso time deposits made up two percent. Capital outflows for the period reached $1 billion.