Economy

China cuts US Treasury holdings for 5th month

(Agencies)
Updated: 2011-05-17 13:38

WASHINGTON -- China, the biggest buyer of US securities, trimmed its holdings for a fifth straight month.

The Treasury Department said Monday that China cut its holdings by $9.2 billion to $1.14 trillion.

Japan, the second-largest foreign holder, boosted its holdings by $17.6 billion to $907.9 billion. There had been concerns that the March 11 earthquake and tsunami would lead Japan to scale back its purchases so it could use the money for reconstruction.

Britain, the third-largest buyer, increased its holdings by 10 percent to $325.2 billion in March.