China Dumps Record $21B in US Assets in August to Prop Up Yuan
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China sold $21.2 billion in US treasuries and stocks in August to prop up the yuan.
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BRICS countries have sold off $123 billion in US bonds and treasuries so far this year, led by China.
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Institutional Chinese investors dumped a record $5.1 billion in US stocks in August.
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China is the biggest gold buyer in 2023 and has dumped the most US assets this year.
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China may be selling US assets to stockpile dollars for potential yuan intervention.