Foreign investment in Canadian securities dropped to an 11-month low in November, with non-residents buying a net $7.24 billion worth of bonds, stocks and money market paper, Statistics Canada said on Thursday.

The purchases were the lowest since the $1.78 billion recorded in December 2015. Investment for the first 11 months of the year hit a record $149.53 billion, well above the $104.24 billion amassed from January to November in 2015.

Foreign investors bought $5.45 billion in stocks, most of it accounted for by purchases on the secondary market. Canadian share prices rose by 2.0 per cent in November.

Non-residents bought  $2.93 billion in bonds, down from  $6.27 billion in October. They sold  $1.13 billion in money market paper after purchasing $7.69 billion the previous month.

Canadians sold $7.87 billion in foreign securities, largely through sales of U.S. instruments. It marked the first divestment since January 2016, when they disposed of $15.46 billion.