Mubasher: China’s holdings of US Treasury bonds and notes fell to the lowest level since May 2017, a decline that accompanied an escalation in the trade tensions between Beijing and Washington.

The Asian nation’s investments in US bonds, bills and notes came in at $1.113 trillion in April, dropping from $1.120 trillion in March, the Treasury Department said in its data on Monday.

This marked the second straight monthly decline for the Chinese holdings of US government debt, yet the world’s second biggest economy remained the top non-US holder of treasuries.