FOREIGN portfolio investments returned to negative territory in March, recording the biggest net outflow in more than two years based on Bangko Sentral ng Pilipinas (BSP) data released on Wednesday.

The $739-million net “hot money” outflow was a reversal of February’s $339.57-million net inflow. It was the largest since a $807.15-million net outflow in September 2016 and was also a reversal from the year-earlier net inflow of $1.132. billion.