Foreigners bought Canadian securities in April, boosting their investment in bonds while reducing their exposure to Canadian-based equities and money market instruments from the previous month.
Meanwhile, Canadian investment in foreign securities reduced their holdings in April following a record amount of transactions in the first quarter of the year.
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Foreign investors bought a net 10.6 billion Canadian dollars ($8 billion) in Canadian securities in April, Statistics Canada said Friday. In the previous month, nonresidents acquired a net C$15.1 billion in Canadian securities. Foreign investment was led by an influx into Canadian bonds worth C$13 billion, the largest such investment since July 2016, the country's national statistics agency said.
Canadians sold a net C$9.9 billion in foreign securities in April, after four straight months of acquisitions, while reducing their share of foreign shares by C$5.7 billion in the previous month.
Canada is running a sizable current-account deficit, meaning it requires money from abroad to help finance consumption and investment.
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Corrections & Amplifications
This article was corrected at 09:19 a.m. because the original misstated that foreign investors had sold Canadian securities. Foreigners bought them.
Foreigners bought Canadian securities in April. "Foreigners Acquired C$10.6 Billion in Canadian Securities in April," at 9:00 a.m. EDT, misstated that they had sold them.
(END) Dow Jones Newswires
June 16, 2017 09:16 ET (13:16 GMT)