Japan's holdings of overseas securities fell $75.6 billion in May from April,
implying the government sold foreign assets, including US Treasures, to help
finance last month's record foreign-exchange intervention. Finance Ministry data
showed foreign reserves dropped to $1.09 trillion at end-May, while
foreign-currency deposits — another potential funding source — were largely
unchanged at $162 billion. Separately, intervention in the month through May 28
totaled a record ¥11.73 trillion (about $73.4 billion).
