China Reserves Falling Least in a Year Signals Outflow Eased

China’s foreign-exchange reserves moderated in the second quarter, a sign capital outflows eased as the central bank held the yuan steady against the dollar and stocks climbed to a seven-year high.

The reserves fell by $40 billion to $3.69 trillion, the lowest since 2013, data from the central bank showed Tuesday. That followed a record $113 billion drop in the first three months. The holdings, which are more than triple the size of any other country’s, shrank in each of the last four quarters as the central bank bought yuan to stabilize the exchange rate. The currency’s 0.05 percent loss against the dollar over the past year is the smallest in emerging markets.