July 18, 2016 / 12:42 PM / 2 years ago

Foreigners pile into Canadian securities for fifth month in a row

OTTAWA (Reuters) - Foreign investors snapped up relatively large amounts of Canadian securities for the fifth month in a row in May, purchasing a net C$14.73 billion ($11.33 billion) worth, Statistics Canada said on Monday.

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch

Total foreign investment in Canadian securities for the first five months of the year hit a record C$74.64 billion, of which C$55.08 billion went into bonds.

Non-residents bought C$17.29 billion worth of Canadian bonds in May, the largest such investment since March 2015, led by purchases of federal government bonds in the secondary market.

Foreigners also bought C$0.82 billion worth of stocks while selling C$3.38 billion in money market paper.

Canadian investors bought C$5.05 billion in foreign securities, the fourth consecutive month of investment, most of it accounted for by C$4.70 billion worth of stocks.

Reporting by David Ljunggren; Editing by Chizu Nomiyama

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