Positive start to 2018 for hot money inflows

Positive investor sentiment saw net foreign portfolio investments hit P162.16 million January, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday, with the bulk of the so-called “hot money” going to the equities market.

Net inflows for the month were “attributable to investor optimism over the passage of the first phase of the government’s tax reform program, positive news on corporate earnings, and expected higher government spending for infrastructure projects,” the Bangko Sentral said in a statement.