Foreign investments in TASE up 57%

There has been a noticeable drop in the volume of investment abroad by institutional investors, compared with the first quarter of the year.

By TAL MOISE
July 5, 2011 22:23
1 minute read.
Bank of Israel Governor Stanley Fischer

stanley fischer 311. (photo credit: Courtesy)

 
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The Bank of Israel reported on Tuesday that net investment by foreign residents in Israeli shares traded on the Tel Aviv Stock Exchange totalled $418 million in May, 57 percent higher than the $266 million invested in April and more than double the $190 million average monthly investment since the beginning of the year.

The bank said that most of the investments were concentrated in the banking and pharmaceuticals sectors.

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At the same time, there was $365 million in net investment this month in Israeli shares traded abroad compared with net sales of $124 million in April and $238 million invested in March.

Nonresidents sold a net $600 million of makam short term securities in May. The sales were partially offset by $300 million net investment in government bonds, primarily bonds not linked to the Consumer Price Index.

There were net sales in May of about $700 million in Israeli bonds abroad: About $300 million in Israeli government bonds, and about $400 million in Israeli corporate bonds. The corporate bond transactions included $600 million from the maturity of an energy company issue, which was partially offset by $200 million in purchases of Israeli corporate bonds.

The central bank also noted that in May, Israeli residents invested a net $240 million in tradable bonds abroad: $100 million by the business sector and another $100 million by households, and $40 million by institutional investors.

Israeli residents also invested a net $90 million in foreign shares traded abroad during the month. Institutional investors invested about $230 million, which were partially offset by $70 million in net sales by the business sector and $70 million by households.

In the past two months, the bank observed, there has been a noticeable drop in the volume of investment abroad by institutional investors, compared with the first quarter of the year.



Israelis invested a net $130 million in direct investments abroad in May, primarily in the high technology and chemicals sectors. Since the beginning of the year, the monthly average net investment in direct investments abroad by Israeli residents is $200 million.

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