China bought a record amount of Japanese government bonds in May in a move that analysts believe could reflect concerns in Beijing about the short-term prospects for the euro.
Chinese net purchases of Japanese government bonds soared to Y735.2bn ($8.3bn) in May, far outpacing the Y541bn in JGBs bought from January to April, according to Japanese finance ministry figures.
Given that the bulk of the Y1,280bn in JGBs that China has bought this year has been in short-term paper, analysts said the growing Chinese investment in JGBs was not necessarily a sign of rising confidence in the Japanese economy.
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