China cuts its holding of US treasuries in March

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

China reduced its holding of the treasuries by $7.7 billion to $1.2446 trillion in March, following an increase of $14.4 billion in February.

Japan, the second largest foreign holder of US treasuries, increased its holding by $4 billion to $1.1371 trillion in March.

In March, overall foreign holdings of US Treasury securities rose to $6.287 trillion from February' s $6.2362 trillion.