October 17, 2016 / 12:42 PM / in a year

Foreign investment in Canada securities rises on bond purchases

OTTAWA (Reuters) - Foreign investment in Canadian securities in August rose to C$12.74 billion ($9.73 billion) from C$9.10 billion in July, led by acquisition of bonds on the secondary market, Statistics Canada said on Monday.

Statscan revised July’s purchases by non-residents from an initial C$5.23 billion to reflect the late arrival of data.

Foreigners bought C$8.97 billion in Canadian bonds, most of them corporate. They also invested C$2.60 billion in stocks and C$1.17 billion in corporate paper.

Foreign purchases of Canadian securities from January to August hit a record C$108.14 billion, much higher than the C$71.66 billion amassed in the first eight months of 2015.

At the same time, Canadians’ net investment in foreign securities plunged to C$1.60 billion in August from C$4.59 billion in July, as purchases of foreign stocks were offset by sales of bonds and money market paper.

Reporting by David Ljunggren Editing by W Simon

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