Capital flows in the financial account, November 2012
Continued investment in government bonds and direct investment
Bonds and makam: In November 2012, nonresidents invested a net $290 million in government bonds and about $30 million net in makam. Preliminary figures for December indicate sales of about $250 million in makam and very moderate activity in government bonds. Since the beginning of the year, nonresidents have sold about $3.4 billion in makam and about $230 million in government bonds.
There were net sales of about $20 million in government bonds traded abroad in November.
Israeli shares: In November, nonresidents sold a net $110 million in shares on the Tel Aviv Stock Exchange (TASE), following net sales of about $40 million in October. Preliminary figures for December indicate net sales of about $130 million, in TASE-traded shares by nonresidents.
From the beginning of 2012 through November, there were net investments of about $500 million in TASE-traded shares, and of about $600 million in Israeli shares traded abroad.
Nonresidents' direct investment: In November, nonresidents' net direct investment in Israel via domestic banks totaled about $350 million, most of which was concentrated in the financial and hi-tech sectors. During the first three quarters of the year, nonresidents made net investments of about $7.5 billion in direct investments.
Investment in foreign shares by institutional investors and the business sector
Shares: In November, net investments by Israeli residents in foreign shares traded abroad totaled about $770 million: investments of about $430 million by institutional investors, and of about $360 million by the business sector, were partially offset by a small volume of sales by households. Since the beginning of the year, Israeli residents have invested about $3.7 billion in foreign shares traded abroad.
Bonds: In November, residents sold a net $230 million in tradable bonds abroad—about $300 million by institutional investors, which were partially offset by net investments of about $70 million by household investors and the business sector.
Direct investment abroad: In November, net direct investments abroad totaled some $10 million, mainly concentrated in investments in the insurance and financial sectors.