China increases its holding of US treasuries in May

WASHINGTON - China, the top buyer of US Treasury securities, increased its holding in May, the latest data from the US Treasury Department showed on Monday.

China added $1.2 billion of treasuries in May, boosting its treasuries holding to $1.244 trillion. The country has cut its holding in April and March.

Japan, the second largest foreign holder of US treasuries, cut its holding by $9.6 billion to $1.1332 trillion in May.

By the end of May, overall foreign holdings of US Treasury securities dropped to $6.2083 trillion from April's $6.2385 trillion.