BUSINESS

Non-residents bought $13.3B in Cdn securities in January: StatsCan

03/18/2013 08:44 EDT | Updated 05/18/2013 05:12 EDT
OTTAWA - Statistics Canada says non-residents acquired $13.3 billion of Canadian securities in January, led by corporate debt instruments.

It says Canadian investors reduced their holdings of foreign securities by $1.2 billion, following four straight months of investment.

As a result, net inflows of funds from cross-border transactions in securities resumed in January, after two consecutive months of net outflows.

The agency says this is a return to the general trend observed since 2009, with foreign investment in Canadian securities exceeding Canadian investment in foreign securities.

Foreign investment in Canadian shares was $1.7 billion in January, after a $6.7 billion merger- and acquisition-related reduction in December.

Canadians reduced their holdings of foreign bonds by $3.3 billion in January on secondary market sales, while they bought $2.2 billion worth of foreign equities over the month.