March 16, 2018 / 12:47 PM / 9 months ago

Foreign investors resume purchases of Canadian securities in January

The moon rises behind the skyline and financial district in Toronto, November 25, 2015. REUTERS/Mark Blinch

OTTAWA (Reuters) - Foreign investment in Canadian securities resumed in January after a dip in December but fell far short of the monthly purchases seen in much of the second half of 2017, Statistics Canada said on Friday.

Non-residents bought a net C$5.68 billion ($4.34 billion) in January, significantly down from the monthly average of around C$18.40 billion seen over July to November last year.

International investors bought C$6.12 billion worth of money market paper, the most since October 2016. Purchases of private corporate paper - mainly denominated in foreign currencies - accounted for the bulk of the investment.

Foreigners also bought C$2.91 billion worth of Canadian stocks, reflecting domestic merger and acquisition activity, while selling C$3.34 billion in bonds.

Canadians bought C$13.25 billion in international securities in January, most of it in stocks, after snapping up an all-time high C$21.99 billion in December. The two-month total is a new record.

($1=$1.31 Canadian)

Reporting by David Ljunggren; Editing by Bernadette Baum

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