Cross-border investment activity strengthened in March, as conditions on global financial markets appeared to be stabilizing, Statistics Canada said Thursday.

StatsCan said Canadian investors acquired $6.2 billion in foreign securities, much of them foreign equities.

Non-residents purchased $6.8 billion in Canadian securities in March, largely federal and provincial short-term debt instruments.

Foreign investors have bought $23.3 billion worth of Canadian this year.

Canadians bought $4 billion in foreign equities, mainly non-U.S. foreign stocks from various countries.

As well, Canadian investors picked up $2.4 billion of foreign bonds in March, following 10 months of divestment.

StatsCan said the first quarter ended with the largest investment outflow in eight years, as major world equity markets posted gains during the month.

IE