January 19, 2017 / 1:55 PM / 2 years ago

Foreign investment in Canadian securities hits 11-month low

OTTAWA (Reuters) - Foreign investment in Canadian securities dropped to an 11-month low in November, with non-residents buying a net C$7.24 billion ($5.44 billion) worth of bonds, stocks and money market paper, Statistics Canada said on Thursday.

Arrangement of various world currencies including Chinese Yuan, US Dollar, Euro, British Pound, shot January 25, 2011. REUTERS/Kacper Pempel/Illustration/File Photo

The purchases were the lowest since the C$1.78 billion recorded in December 2015. Investment for the first 11 months of the year hit a record C$149.53 billion, well above the C$104.24 billion amassed from January to November in 2015.

Foreign investors bought C$5.45 billion in stocks, most of it accounted for by purchases on the secondary market. Canadian share prices rose by 2.0 percent in November.

Non-residents bought C$2.93 billion in bonds, down from C$6.27 billion in October. They sold C$1.13 billion in money market paper after purchasing C$7.69 billion the previous month.

Canadians sold C$7.87 billion in foreign securities, largely through sales of U.S. instruments. It marked the first divestment since January 2016, when they disposed of C$15.46 billion.

Reporting by David Ljunggren; Editing by Bill Trott

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