Holdings of US debt rise again

BEIJING - China increased its holdings of US Treasury debt for the first time in six months - a trend analysts said could last as the dollar is expected to continue its strong rise.

The US Treasury Department reported Monday that China's holdings of US Treasury securities rose to $895.2 billion in March from $877.5 billion in February. The $17.7 billion increase marks the first by the largest US debt holder since September.

Analysts said China's increased foreign exchange reserves in the first quarter and European financial woes triggered by the Greek sovereign debt crisis are behind the move to raise holdings of US debt.