Philippine portfolio inflows rebound in Sept vs Aug

*Sept net flows back to positive after Aug outflow

*Jan-Sept net portfolio inflows $229 mln, up from yr ago

MANILA, Oct 15 - The Philippine central bank released on Thursday latest data on foreign portfolio investments in September:

Sept Aug July June May April Net flows (in $ mln) 46.95 -82.91 65.87 -77.09 497.58 -276.05

KEY POINTS:

- The country's better-than-expected economic growth in the first half, strong remittances, easing inflation and low interest rates, encouraged investors to return to the local stock and debt markets in September, the central bank said in a statement.

- The net inflow in September compared to a net outflow of $443.12 million in the same month of 2008.

- In January to September, net inflows reached $229.13 million, a reversal of the net outflow of $889.15 million in the same period last year.

- Central bank governor Amando Tetangco said on Wednesday net portfolio inflows could reach $3 billion this year, much above the central bank's earlier estimate of $500 million.

- Tetangco told reporters earlier this month inflows of capital to emerging markets were expected to further increase in coming months on hopes that the worst of the global downturn was over.

LINKS:

- For details, click on central bank website... http://www.bsp.gov.ph/publications/media.asp?id=2189