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More debt sold
Source: Bloomberg News |
September 9, 2011, Friday
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Print Edition
Print Edition
CHINA sold more Japanese debt than it bought for a ninth month, according to a statement from Japan's Ministry of Finance released in Tokyo yesterday.
China sold a net 348.7 billion yen (US$4.5 billion) in money-market instruments and bought 12.6 billion yen in Japanese bonds and notes in July, resulting in a total sale of 336.1 billion yen, the statement showed. The UK bought a net 6.33 trillion yen in Japanese fixed-income securities.
"Though China sold short-term debt, there is the possibility that their money flowed to Japan via Britain," said Toru Suehiro, a market analyst in Tokyo at Mizuho Securities Co, one of the 25 primary dealers obliged to bid at the government's debt sales. "Britain is a global financial hub."
The yen gained 5 percent against the dollar in July, the biggest monthly advance since December 2008.
China sold a net 348.7 billion yen (US$4.5 billion) in money-market instruments and bought 12.6 billion yen in Japanese bonds and notes in July, resulting in a total sale of 336.1 billion yen, the statement showed. The UK bought a net 6.33 trillion yen in Japanese fixed-income securities.
"Though China sold short-term debt, there is the possibility that their money flowed to Japan via Britain," said Toru Suehiro, a market analyst in Tokyo at Mizuho Securities Co, one of the 25 primary dealers obliged to bid at the government's debt sales. "Britain is a global financial hub."
The yen gained 5 percent against the dollar in July, the biggest monthly advance since December 2008.
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