BSP: ‘Hot money’ inflow shrank 27% to $170M in June

MANILA, Philippines — Foreign investors remained buyers of Philippine government securities in June but sold local stocks at a faster pace, reflecting a flight to safer investments. Data from the Bangko Sentral ng Pilipinas (BSP) showed foreign portfolio inflows (FPIs) surpassed outflows by $170 million in June, nearly 27 percent lower than the preceding month’s