The Bank of Israel today reported that foreign residents net investment in May in Israeli shares traded on the Tel Aviv Stock Exchange (TASE) was $418 million, 57% 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 of Israel said that most of the investments were concentrated in the banking and pharmaceuticals sectors. 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 (CPI).
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 Bank of Israel 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.
In May, Israeli residents also invested a net $90 million in foreign shares traded abroad. 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. The Bank of Israel observed that In the past two months, there has been a noticeable drop in the volume of investment abroad by institutional investors, compared with the first quarter of the year.
In May, Israeli residents invested a net $130 million in direct investments abroad, 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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