Foreign demand for U.S. financial assets falls

Foreign demand for long-term U.S. financial assets fell in April as both China and Japan trimmed their holdings of Treasury securities. The Treasury Department says that net purchases of stocks, notes and bonds obtained by foreigners fell to $11.2 billion in April, compared with $55.4 billion in March. China, the largest holder of U.S. Treasury securities, trimmed its holdings to $763.5 billion in April, from $767.9 billion in March. Japan, the second largest holder of Treasury securities, reduced its holdings to $685.9 billion, from $686.7 billion a month earlier.