Portfolio investment outflows fall 53% to offset 21% drop in new hot money

A 53 percent decrease in registered portfolio investment outflows made 2012’s first monthly net figure settle at $586 million but  “investors remained cautious due to renewed worries over Greece’s debt problems” the Bangko Sentral ng Pilipinas (BSP) said Friday.   The cautiousness is reflected in the 21 percent decline in total inflows last January of $1.21 billion from the year-ago level of $1.54 billion.   Most of the portfolio investments were channeled to telecommunications, holding firms and banks. The bulk of the capital came from from the United Kingdom, Singapoe, the United States, Luxembourg and Hong Kong.   The largest chunk of outflows went to the United States, the BSP said.   On a weekly basis, the portfolio investment inflows averaged at $270 million dollars—peaking at $297 million in the second week of January after the $229 million opening in the first week.   The outflows were less—from just $64 million in the first week, cresting at $222 million the following week, and then sliding down to $87 million in the fourth week. — ELR, GMA News