US Treasury holdings continue drop in May

China's holdings of US Treasury securities in May fell to their lowest point since June 2009 following another cut, data from the US Department of the Treasury showed on Tuesday.

China, the US's second-largest creditor after Japan, reduced its holdings of US Treasury securities in May to $846.7 billion, down by $22.2 billion from the previous month and marking the lowest level since June 2009, when the reading came in at $776.4 billion.

The country reduced its holdings for seven straight months until February and continued cutting them in April and May after a slight increase in March.