China sold a record amount of Japanese debt in August, snapping a seventh-straight month of purchases.
China sold a net 2.02 trillion yen ($24.5 billion) of Japanese debt in August, the Ministry of Finance said today in Tokyo. That was the biggest monthly sale in data going back to 2005. It sold 2.03 trillion yen in short-term debt and bought 10.3 billion yen in long-term securities, ministry data showed.
Ten-year bond futures for December delivery lost 0.04 to 143.81 as of 9:09 a.m. at the Tokyo Stock Exchange.
China bought a net 735.2 billion yen of Japanese debt in May, the most on record, according to the ministry. It purchased a net 583.1 billion yen of the securities in July.
About 95 percent of Japan’s debt is held domestically, and total borrowings are approaching 200 percent of the nation’s gross domestic product.
Ten-year bond futures for December delivery lost 0.04 to 143.81 as of 9:09 a.m. at the Tokyo Stock Exchange.
China bought a net 735.2 billion yen of Japanese debt in May, the most on record, according to the ministry. It purchased a net 583.1 billion yen of the securities in July.
About 95 percent of Japan’s debt is held domestically, and total borrowings are approaching 200 percent of the nation’s gross domestic product.
Japanese Finance Minister Yoshihiko Noda suggested at a meeting last month that it’s inappropriate for China to buy Japan’s bonds without a reciprocal ability for Japanese to invest in China’s market.
“I feel strange that China can buy Japanese government bonds while Japan can’t buy theirs,” Noda said in answering lawmakers’ questions at a hearing on the economy on Sept. 9.
To contact the reporters on this story: Masaki Kondo in Tokyo at mkondo3@bloomberg.net; Shigeki Nozawa in Tokyo at snozawa@bloomberg.net.
To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net
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