Dubai – Mubasher: The UAE and Kuwait have reduced their ownership of US bonds by around $3.5 billion in December 2016, data released by the US Treasury Department showed.
UAE investments in US bonds fell 3.8% or by around $2.4 billion to stand at $60.6 billion, compared to $63 billion in November of the same year.
Similarly, Kuwait trimmed its investments by $1.09 billion to $28.71 billion in December from $29.8 billion a month earlier.
On the other hand, Saudi Arabia raised its investments in US bonds in the last month of 2016 by 2.6% or $4.3 billion to reach $102.8 billion from $100.1 billion.
On a global scale, China increased its investments by more than $9.1 billion in December 2016, raising its total ownership to $1.058 trillion, whereas Japan’s investments in US bonds were down by $17.8 billion to $1.09 trillion in December.
Data by the US Treasury Department entails investments in bonds and treasury bills but exclude other investments by these countries.
