12/16/2013 08:50 EST | Updated 02/15/2014 05:59 EST

Foreign investors bought $4.4B of Cdn securities in October: StatsCan

OTTAWA - Statistics Canada says foreign investors bought $4.4 billion worth of Canadian securities in October.

The agency says the foreign investment was focused on the corporate sector.

Meanwhile, Canadian holdings of foreign securities edged lower, led by the sale of U.S. stocks.

Foreigners invested $6.1 billion in Canadian bonds in October, mainly new bonds denominated in U.S. dollars.

At the same time, foreign investors cut their holdings of Canadian money market instruments by $6.2 billion in October, following six straight months of investment totalling $12.4 billion.

This was the largest divestment since July 1994 and was mainly led by retirements of federal treasury bills.