April 18, 2016 / 12:37 PM / 3 years ago

Foreigners ramp up purchases of Canadian securities

OTTAWA (Reuters) - Foreign investors bought C$15.94 billion ($12.36 billion) worth of Canadian securities in February, the most in four months, with most of the money going into the bond market, Statistics Canada said on Monday.

Non-residents snapped up C$12.70 billion worth of bonds, mostly those denominated in Canadian dollars. A majority were issued by the federal government.

Foreigners bought C$3.40 billion worth of stocks, up from just C$141 million in January, as Canadian share prices edged up over the month. They also sold C$164 million worth of Canadian money market paper.

Canadians resumed their purchases of foreign securities, investing a net C$4.37 billion after selling C$14.68 billion in January. They bought C$5.44 billion in bonds, mostly U.S. government and corporate bonds.

Domestic investors sold C$1.12 billion in foreign stocks, buying C$3.63 billion worth of non-U.S. shares while cutting their exposure to U.S. equities by C$4.75 billion. U.S. stock prices edged down in February.

($1=$1.29 Canadian)

Reporting by David Ljunggren; Editing by Paul Simao

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