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× Trade war fears, weak PH economy early on drive $391M in ‘hot money’ away

Short term investments fled local financial markets in August resulting in more than $300 million leaving the Philippines in the first eight months of 2019, which the central bank attributed to fears of a US-China trade war and the lackluster performance of the Philippine economy in the first half of the year.

According to data from the Bangko Sentral ng Pilipinas (BSP), the economy lost $391.7…