Non-resident investors poured $10.5 billion into Canadian securities in November, Statistics Canada said Monday.

Bond purchases made up most of the gain, as foreigners added $12.9 billion worth of Canadian bonds to their portfolios in the month while shedding a net $464 million worth of Canadian stocks.

Non-residents also sold off $1.9 billion worth of short-term debt instruments.

It was the first time in 10 months that foreigners reduced their holdings of Canadian equities.

Canadian stock prices were up 4.9 per cent, on average, in November.

Within the bond subsector, non-residents bought $7.2 billion worth of private bonds, $1.6 billion in federal bonds, and $3.1 billion worth of provincial bonds.

Canadians opt for foreign bonds

At the same time, Canadian residents acquired $2.4 billion of foreign securities, marking a return to U.S. government debt instruments.

Within that, Canadians acquired $2.6 billion of foreign debt instruments in November, the largest acquisition since June 2007.

They also sold off $178 million from their holdings of foreign stocks in November, following two months of more pronounced divestment.

U.S. stock prices were up 5.7 per cent in November, while most other major foreign stock markets also advanced.