China's holdings of US Treasuries rise for third month

WASHINGTON - China's holdings of US Treasury securities rose for the third month in May, while Japan continues to cut its holdings to a year low.

China added $6.9 billion of the treasuries to $1.2703 trillion in May, the highest level since June 2014, the latest data from the Treasury Department showed on Thursday. The country has increased its US treasuries holdings for three months running.

Japan, which had overtook China as the biggest foreign holder in February before trading places again in March, cut its holdings by $1 billion to $1.2149 trillion in May, the lowest since April 2014.

In May, the overall foreign holdings of US Treasury securities reached $6.1348 trillion, down from a revised $6.1384 trillion in April.