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China cuts Japanese debt holdings

2011-08-08 11:23

China sold Japan's medium- and long- term debt for the first time in nine months in June, Bloomberg reported Monday.

China sold a net 508.5 billion yen ($6.5 billion) of the fixed-income securities in June, said the report, citing a statement released by Japan's Ministry of Finance in Tokyo Monday.

China was a net seller of 8.4 billion yen in short-term notes maturing in less than a year.

The yen advanced 1.2 percent against the dollar in June, near a record high since November.

Japan has a public debt burden that's twice as big as its economy, according to report.

Ten-year bonds yielded 1.005 percent in Japan, the lowest among 32 markets tracked by Bloomberg.

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