July 17, 2017 / 12:47 PM / 3 months ago

Foreign investment in Canadian securities jumps in May

OTTAWA (Reuters) - Foreign investors ramped up purchases of Canadian securities in May, driven by increased holdings of Canadian government debt and equities, data from Statistics Canada showed on Monday.

FILE PHOTO - Buildings are seen in the financial district in Toronto, January 28, 2013. REUTERS/Mark Blinch

International investors picked up C$29.5 billion ($23.3 billion) in Canadian securities in May, up from C$10.6 billion in April and the second largest amount on record.

Since the beginning of the year, foreign investors have bought C$100.6 billion in Canadian securities, compared with C$82 billion in the same time period last year.

Foreign investors bought C$20.8 billion in Canadian bonds in May, the most since March 2015, buying a record amount of provincial government bonds. Investors also picked up C$7.2 billion in Canadian equities, even as stock prices were down 1.5 percent in the month.

Canadian investors bought C$4.4 billion in foreign securities after reducing their holdings in April. Canadians bought C$1.2 billion in international bonds, including U.S. Treasuries and corporate bonds.

Still, Canadian investors sold C$1.5 billion in foreign equities, the second month in a row investors have reduced their stock holdings.

Reporting by Leah Schnurr; Editing by Jeffrey Benkoe

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