As foreign funds leave for countries that are seen to recover from the pandemic earlier, local retail and institutional investors have been picking up the slack in the Philippine equities market during the first month of the year.
The Philippine Stock Exchange (PSE) said local investors accounted for 75.3 percent of value turnover in January with the remaining 24.7 percent of transaction value attributed to foreign investors. This is the highest local investor participation on a monthly basis since March 2010 at 76.2 percent.
Photo credit: PSE file.
The value turnover ratio was 56.8 to 43.2 in favor of foreign investors in January 2020 and 54.6 to 45.4 in favor of local investors for the entire 2020.