By Robb M. Stewart
OTTAWA--Canadian investors increased their holdings of foreign securities in November with the biggest investment in eight months, while foreigners added Canadian securities with unprecedented buying of money-market instruments.
Canadians bought 17.85 billion Canadian dollars (US$12.4 billion) in foreign securities, the highest investment since March and a switch after C$2.65 billion in foreign securities offloaded the month before, Statistics Canada said Friday.
Nonresident investors in November purchased a net C$16.40 billion in Canadian securities, led by buying of debt securities, the data agency.
As a result, international transactions generated a net outflow from the Canadian economy of C$1.44 billion following two consecutive months of strong fund inflows.
The monthly international securities report covers a portfolio of transactions in equity- and investment-fund shares, bonds and money-market instruments for both Canadian and foreign issues. The activity excludes transactions in equity and debt instruments between affiliated enterprises.
Canadian investors in November bought C$11.91 billion in foreign debt, including C$10.33 billion invested in bonds. Canadians also increased their exposure to foreign equities, and targeted roughly C$5.1 billion in U.S. shares.
Foreign investment in Canadian securities included C$25.17 billion in debt securities, mainly federal government instruments. Foreigners boosted holdings of Canadian money-market instruments by C$19.5 billion during the month, led by strong buying of Canadian government Treasury bills.
Non-resident investors also increased their exposure to Canadian bonds by C$5.67 billion in November, the lowest monthly investment in 2024, but decreased their exposure to Canadian shares by C$8.76 billion following two straight months of notable investment totalling roughly C$24.7 billion.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
01-17-25 1152ET
