Canada rewrites the “sell America” script with a quiet US buying spree

Bloomberg says Norway, Singapore and South Korea ranked among the biggest equity buyers, while mainland China went the other way, remaining a net seller of US stocks for a third straight year and cutting broader long-term US exposure by US$208.6bn.  

China’s Treasury holdings fell to US$683.5bn, the lowest since 2008, after regulators in Beijing reportedly urged institutions to rein in US Treasury positions because of concentration risk and volatility. 

For Canadians, the pivot is notable.  

Bloomberg reports that Canada, which was the largest seller of US stocks in 2024, became a net buyer in 2025, adding US$10.6bn in US equities and US$84.4bn in total long-term US assets, even as Canadians expressed anger over trade policies and threats to the country’s sovereignty. 

This buying came against a weaker US dollar and rising policy uncertainty.