SinoCast China Financial Watch articles from October 2008

SinoCast China Financial Watch archives from October 2008

BoCom Net up 57% in Q1-Q3.
October 31, 2008... SHANGHAI, November 03, SinoCast -- China's financial center Shanghai-based Bank of Communications (BoCom, 601328.SH, 3328.HK) in the first nine months of this year realized a 56.84% growth in its net profits. In the reporting period ended...

China Said to Nod to CNY200bn Insurance Equity Investment.
October 31, 2008... BEIJING, November 03, Sino Cast -- Insurers in China are seeking new investment channels due to recession in the domestic stock market. Previous sources said that the China Insurance Regulatory Commission (CIRC), the top Chinese insurance...

CMB Q3 Net Up 49%.
October 31, 2008... SHANGHAI, November 03, Sino Cast -- Chinese commercial lender China Merchants Bank (CMB, SHSE: 600036 and SEHK: 3968) reported a net profit of CNY 5.75 billion for the third quarter of 2008, soaring 49.45 percent year on year, with basic...

Securities Brokerage Incomes Dive.
October 31, 2008... SHANGHAI, November 03, SinoCast -- Eight listed securities companies' net brokerage incomes in the third quarter slid 65 percent from a year ago due to gloomy stock trading and falling commissions. Their third-quarter brokerage incomes were...

Employees at Securities Companies Receive Decreasing Wages.
October 31, 2008... BEIJING, November 03, SinoCast -- The securities companies in China's Mainland averagely paid CNY 27,000 monthly salary to each of their employees in 2008's third quarter, down 37.7% from the first half year. Beijing-based CITIC Securities...

Shanghai to Revise Standards for Ordinary Houses.
October 31, 2008... SHANGHAI, November 03, SinoCast -- Responding to local new policy of real estate, Shanghai is revising standards for ordinary houses. Shanghai municipal government on October 23 released new policy of real estate, which includes preferential...

ICBC Said to Buy into Philippine Bank.
October 30, 2008... BEIJING, October 31, SinoCast -- Chinese banking giant Industrial and Commercial Bank of China (ICBC, SHSE: 601398, and SEHK: 1398) is said to be weighing a plan to take a stake in Philippine banking financial institution - GSIS Family Bank...

China Cuts Interest Rates Again.
October 30, 2008... BEIJING, October 31, SinoCast -- China's central bank, the People's Bank of China, announced on October 29 that it would cut the benchmark deposit and lending interest rates by 0.27 percentage points with effect from October 30. This is the...

BOC Unveils CNY26bn Asset Impairment Provision.
October 30, 2008... BEIJING, October 31, SinoCast -- Chinese banking giant Bank of China (BOC, SEHK: 3988 and SHSE: 601988) reported an asset impairment loss of CNY 16.79 billion for securities investment in the first three quarters of 2008. The bank mainly...

China Securities Brokers See 79% Performance Decrease in Q3.
October 30, 2008... SHANGHAI, October 31, SinoCast -- Eight listed securities brokers in China's Mainland earned total net profits of CNY 2.03 billion in the third quarter of this year, reducing 79% compared to a year earlier. As of October 30, all of the eight...

Foreign Funds Wait to See Effect of Boosting Policies.
October 30, 2008... HANGZHOU, October 31, SinoCast -- Foreign funds are waiting to see the effect of the Chinese government's boosting policies over real estate sector, which is expected to take after half a year or one year. Real estate developers and investors...

China Life Equity Assets Decrease Sharply on Bearish Market.
October 30, 2008... BEIJING, October 31, SinoCast -- China's largest life insurer China Life Insurance Company Limited (601628.SH, 2628.HK) in July to September saw its equity assets decrease 49.76% or CNY 12 billion on the bearish stock market. In the period,...

Industrial Bank Q1-Q3 Net Hit CNY9.4bn.
October 29, 2008... SHANGHAI, October 30, SinoCast -- Chinese commercial lender Industrial Bank Co., Ltd. (SHSE: 601166) reported a net profit of CNY 9.4 billion for the first three quarters of 2008, up CNY 3.4 billion, or 56 percent, from a year ago, with...

Haitong Securities Q3 Net Hit CNY641mn.
October 29, 2008... SHANGHAI, October 30, SinoCast -- Haitong Securities Co., Ltd. (SHSE: 600837) had a net profit of CNY 641 million in the quarter ended September 30, 2008, diving 68.82 percent from a year ago, according to the quarterly financial results by...

Jiangsu, Zhejiang Cement Prices Dive.
October 29, 2008... JIANGSU, October 30, SinoCast -- Cement prices in Jiangsu and Zhejiang provinces fall sharply and this situation would probably soon spread to Shanghai, according to China Cement Association. Macro economic turbulence, sliding demands and...

Ping An Likely to Sell More Financial Asset in 2 Months.
October 29, 2008... SHENZHEN, October 30, SinoCast -- China's second biggest insurance group Ping An Insurance (Group) Company of China, Ltd. (601318.SH) is likely to sell more financial assets in the following two months this year. Actually, Ping An has...

A-share PE Ratio Falls to 14 Times.
October 28, 2008... SHANGHAI, October 30, SinoCast -- The average price-earning ratio of A shares in Shanghai fell to 14.02 times as at October 27, and that in Shenzhen dropped to 14.36 times with benchmark stock indices touching new lows. Shanghai Composite...

Pacific Insurance Suffered CNY1.5bn Investment Losses in Q3.
October 28, 2008... SHANGHAI, October 30, SinoCast -- China Pacific Insurance (Group) Co., Ltd. (610601.SH) suffered CNY 1.5 billion investment losses in the third quarter of 2008, the first time for the Shanghai-based insurance company to suffer such losses. As...

China Central Bank Cuts Bill Issue.
October 28, 2008... BEIJING, October 29, SinoCast -- China's central bank announced on Monday that it would issue one-year central bank bills once two weeks, a move to stimulate commercial banks to actively grant loans. The one-year central bank bills earlier...

Morgan Stanley Eyes Chinese Bank.
October 28, 2008... NANNING, October 29, SinoCast -- Chinese commercial lender Guangxi Beibu Gulf Bank's total assets is approaching to CNY 14 billion. Under the administration of south China's Guangxi Autonomous Region, the bank was formally set up in Nanning,...

Corporate Bonds Performed Poorly.
October 28, 2008... SHANGHAI, October 29, SinoCast -- The performance of corporate bonds in China's Mainland is getting poorer and poorer recently. The corporate bonds issued by Xinhu Zhongbao Co., Ltd. on October 27 declined 6.64% from the previous trading to a...

Real Estate Giants Increase Cash to Survive.
October 28, 2008... SHANGHAI, October 29, SinoCast - Listed real estate developers are taking various measures to increase cash flow to survive the gloomy real estate market. Five listed property developers that have released their third-quarter financial...

China Life Q3 Net down 46.91%.
October 28, 2008... BEIJING, October 29, SinoCast -- China's largest life insurer China Life Insurance Company Limited (601628.SH, 2628.HK) has seen its net profits in this year's third quarter slide 46.91%, according to its quarterly report filed to the...

Ping An Reports CNY7.81bn Loss for Q3.
October 28, 2008... BEIJING, October 29, SinoCast -- Chinese insurer Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318 and SEHK: 2318) reported a loss of CNY 7.81 billion for the third quarter of 2008 due to a CNY 15.7 billion provision for asset...

Construction Bank Net Rises 47.58% in Jan-Sep.
October 27, 2008... BEIJING, October 28, SinoCast -- China's biggest property lender China Construction Bank (601939.SH, 0939.HK) has taken the lead among the country's listed state-owned commercial banks to disclose the performance report for the first three...

CMB Controls 90.65% Stake in Wing Lung Bank.
October 27, 2008... HONG KONG, October 28, SinoCast -- Chinese commercial lender China Merchants Bank (CMB, SHSE: 600036 and SEHK: 3968) had lifted up its stake in Hong Kong-based Wing Lung Bank Ltd. (SEHK: 0096) to 90.65 percent by October 22. It completed the...

CCB Shares Hold by BAC Become Tradable.
October 27, 2008... HONG KONG, October 28, SinoCast -- The lock-up period of 19.133 billion shares Bank of America (NYSE: BAC and TYO: 8648) hold in top Chinese commercial lender China Construction Bank (CCB, SEHK: 0939 and SHSE: 601939) is expired on October...

Fund Firms Lose CNY80mn in Investment in Own Funds.
October 27, 2008... SHANGHAI, October 28, SinoCast -- Fund firms in China have suffered more than CNY 80 million losses from investment in their own funds this year. Statistics show that the benchmark Shanghai Composite Index and CSI 300 Index has dropped nearly...

China Implements New Mortgage Policy.
October 27, 2008... BEIJING, October 28, SinoCast -- China's central bank slashes the decline band of interest rates on individual mortgage home loans to 70 percent, minimum down payment to 20 percent of a house price and interest rates on personal housing...

Pacific Insurance Net down 30% in Jan-Sep.
October 27, 2008... SHANGHAI, October 28, SinoCast -- China Pacific Insurance (Group) Co., Ltd. (610601.SH) suffered losses of CNY 1.64 billion in the third quarter of 2008, down 183.7% than the same period of previous year. As a result, its net profits in...

Shenzhen Development Bank Posts CNY3.32bn Net in Jan-Sep.
October 24, 2008... SHENZHEN, October 27, SinoCast -- Shenzhen Development Bank (000001.SZ) on October 24 reports net profits of CNY 3.32 billion for the first three quarters of 2008, a leap of 77% year on year. Based and listed in the southern boomtown...

Beibu Gulf Bank Set Up.
October 24, 2008... NANNING, October 27, SinoCast -- Guangxi Beibu Gulf Bank, a commercial lender under the administration of south China's Guangxi Autonomous Region, was formally set up in Nanning, capital of the region, with a registered capital of CNY 2...

UK Property Developers Eyes Chinese Market.
October 24, 2008... SHANGHAI, October 27, SinoCast -- UK property company Grosvenor has launched a USD 600 million private equity fund to invest in shopping malls in China amid the burgeoning retail industry. The PR unit of Grosvenor's Shanghai operation...

China Cement Production Slows Down.
October 24, 2008... SHANGHAI, October 27, SinoCast -- China's cement production slowed down in the first nine months on falling downstream demands and some cement producers' control over production for price rise. Statistics from China Cement Association show...

SAFE Investments Expected to Take over NCL Stake.
October 24, 2008... BEIJING, October 27, SinoCast -- Central SAFE Investments Limited, the investment agency of Chinese government, is expected to take over the stake that China Insurance Guarantee Fund Co. takes in Beijing-based New China Life Insurance Co.,...

Ping An Said to report Loss in 08.
October 24, 2008... BEIJING, October 27, SinoCast -- The floating loss top Chinese insurer Ping An Insurance (Group) Company of China, Ltd. (Ping An, SHSE: 601318, and SEHK: 2318) suffered from investing in Belgian-Dutch financial group Fortis NV (EBR: FORB) is...

Lehman Brothers QFII Assets Frozen.
October 23, 2008... SHANGHAI, October 24, SinoCast -- Collapsed Lehman Brothers' QFII assets have been frozen by court in east China's Shanghai requested by Hua An Fund Management Co., said sources from Agricultural Bank of China, which acts as trustee for the...

Hua Xia Bank Raises CNY 11.5bn From Share Placemen.
October 23, 2008... BEIJING, October 24, SinoCast -- Hua Xia Bank (SHSE: 600015) recently placed 790 million shares to three shareholders with total proceeds reaching CNY 11.56 billion, replenishing its capital adequacy ratio to be over 10 percent. The lender's...

Agricultural Bank of China Eyes IPO in 09.
October 23, 2008... BEIJING, October 24, SinoCast -- Chinese commercial lender Agricultural Bank of China plans to be listed in the second half of next year. It has gained approval from the State Council, the cabinet, for its restructuring plan, Pan Gongsheng,...

China Investment-linked Insurance Withdrawal Rate Up.
October 23, 2008... BEIJING, October 24, SinoCast -- Hurt by the global financial turmoil, the withdrawal rate of investment-linked insurance in China is soaring now. Currently, the withdrawal rate of such insurance products of some insurance companies in the...

Agricultural Bank Share Reform Approved.
October 22, 2008... BEIJING, October 23, SinoCast -- The non-tradable share reform plan of Agricultural Bank of China, one of country's four state commercial banks, has been passed by the State Council, the country's cabinet. Central SAFE Investments Limited,...

China's Banking Slowing Down.
October 22, 2008... SHANGHAI, October 23, SinoCast -- Shenzhen Development Bank (SZSE: 000001) is scheduled to unveil its third-quarter financial results on October 24, becoming the first listed Chinese commercial lender to release its financial results for the...

Northeast Securities Reports CNY1.25mn Net in Q3.
October 22, 2008... CHANGCHUN, October 23, SinoCast -- Northeast Securities Co., Ltd. (000686.SZ) posts net profits of CNY 1.25 million for the three months ended September 30, 2008 and CNY 345 million in the three quarters ended September 30, 2008. As the first...

Everbright Securities May Take Over Parent's Assets in HK.
October 22, 2008... SHANGHAI, October 23, SinoCast -- China Everbright Securities would probably take over its parent's securities assets in Hong Kong to access into local financial market rather than set up own subsidiary in the SAR. Everbright Securities is...

National Boosting Policy Over Real Estate Sector Expected.
October 22, 2008... SHANGHAI, October 23, SinoCast -- Local governments' boosting policies over real estate market may be hard to take effect until the national policies come out. The domestic real estate sales in September and golden national holiday remained...

Merchants Bank Makes Progress in Wing Lung Bank Deal.
October 21, 2008... SHENZHEN, October 22, SinoCast -- China Merchants Bank (600036.SH), a well-run lender with a nationwide license in China's Mainland, has raised its stake in Hong Kong's Wing Lung Bank from 53.12% up to 83.81%. Based in the boomtown Shenzhen,...

Insurers Form Union to Underwrite World Expo Shanghai 2010.
October 21, 2008... SHANGHAI, October 22, SinoCast -- Twelve insurance companies in China form a union to provide property insurance, construction & installation all risks insurance and exhibits & artworks insurance for World Expo Shanghai 2010. PICC Property &...

CCIC to Expand Registered Capital.
October 21, 2008... SHANGHAI, October 22, SinoCast -- China Continent Property & Casualty Insurance Co., Ltd. (CCIC) has gained approximately CNY 2.09 billion from its parent China Reinsurance Group Corp. and the problem it met in solvency will be solved soon....

China Plans Real Estate Stimulus Policies.
October 21, 2008... BEIJING, October 22, SinoCast -- The Chinese government is about to work out measures and policies to stimulate house sales, according to the economic arrangement made at the Executive Meetings of the State Council. Related authorities are...

Bank of Beijing Likely to Be Shareholder of ING Capital Life.
October 20, 2008... BEIJING, October 22, SinoCast -- Bank of Beijing (601169.SH) is likely to take over a 50% stake in ING Capital Life Insurance Company Limited from Beijing Capital Group. Before the deal, Bank of Beijing as the Chinese partner of ING Groep...

Bank QDII Products Tumble.
October 20, 2008... SHANGHAI, October 21, SinoCast -- Wealth management precuts issued by commercial banks with QDII qualification tumbled amid the downturn of overseas capital market. According to a research institution's statistics, of the 46 QDII products...

China Re to Make Injections into Subsidiaries.
October 20, 2008... BEIJING, October 21, SinoCast -- China Reinsurance (Group) Corporation (China Re) is to inject more capital into three of its subsidiaries, sources said. The three to receive the injection from the parent company are China Continent Property...

Ping An Not Get Approved to Buy XJ Electric.
October 20, 2008... SHANGHAI, October 21, SinoCast -- Ping An Insurance (Group) Company of China, Ltd. (601318.SH) has not been approved by State-owned Assets Supervision and Administration Commission to indirectly purchase a 29.90% stake in XJ Electric Co.,...

Evergrande Real Estate Denies Cooperation with Vanke.
October 20, 2008... SHENZHEN, October 21, SinoCast -- Evergrande Real Estate Group Limited and China Vanke Co. (SZSE: 000002) defy the news on possible cooperation between them in order to survive the wild correction of mainland real estate market. Evergrande...

Maoye Int'l Strengthens Retail Capacity via M&As.
October 20, 2008... GUANGZHOU, October 21, SinoCast -- Zhongzhao Investment Management Co., Ltd., an investment vehicle controlled by Chinese retail and real estate giant Huang Maoru, strengthened its capacity in China's retail industry via buying into two...

SPD Bank Q3 Net Forecasted to Soar 150%.
October 17, 2008... SHANGHAI, October 20, SinoCast -- Shanghai Pudong Development Bank (SPD Bank, 600000.SH), a well-performing nationwide commercial lender in China's Mainland, has forecasted a 150% leap in its net profits for the quarter ended September 30,...

PICC to Control China Credit Trust.
October 17, 2008... BEIJING, October 20, SinoCast -- China's Ministry of Finance has gained approval from the State Council, the nation's cabinet, to transfer a 32.35 percent stake it holds in China Credit Trust Co., Ltd. to the People's Insurance Company...

Banks Appeal for Loosening Second-House Mortgage.
October 17, 2008... SHANGHAI, October 20, SinoCast -- Appeal for loosening restrictions on individual mortgage loans on second houses and real estate development loans is growing among commercial banks and real estate developers. This comes as real estate sales...

Beiqi Foton Motor Expands into Auto Finance.
October 16, 2008... BEIJING, October 20, SinoCast -- Beiqi Foton Motor Co.(SHSE: 600166) is extending business scope to cover automobile finance in the face of sliding profit margin in automobile manufacturing. The automaker announced on October 14 that its...

ICBC New York Branch Open for Business.
October 16, 2008... BEIJING, October 17, SinoCast -- The New York branch of Industrial and Commercial Bank of China (ICBC, 601398.SH, 1398.HK) held an inauguration ceremony on October 15, thus marking the formal operation of ICBC's first branch in the United...

Investors Chase By First Innovative Bond Fund.
October 16, 2008... SHANGHAI, October 17, SinoCast -- Investors chased by Fullgoal Fund Management Co.'s innovative bond fund debuted on October 16. According to estimated statistics, individual and institutional investors made orders for around CNY 1.2 billion...

4 Securities Firms 3Qs Net Plunge about 70%.
October 16, 2008... BEIJING, October 17, SinoCast -- There have been four securities firms releasing their third-quarter financial reports or estimates, according to which their net profits during the first three quarters of 2008 would averagely plunge about 70%...

New China Life Launches Micro-insurance Pilot.
October 16, 2008... BEIJNG, October 17, SinoCast -- Chinese insurer New China Life Insurance Co., Ltd. announced its rural micro-insurance pilot in central China's Henan Province on October 15, 2008. Therefore, it became the fourth Chinese life insurers to...

CNY1.5bn State Capital to Finance Hualian Sunshine.
October 16, 2008... SHAOXING, October 17, SinoCast -- A CNY 1.5 billion investment from two state-owned companies is to go into Zhejiang Hualian Sunshine Petro-Chemical Co., Ltd., a Shaoxing-based purified terephthalic acid (PTA) producer, in a bid to help the...

Property Market Correction Beats Cement Market.
October 16, 2008... SHANGHAI, October 17, SinoCast -- The wild correction of mainland real estate market is spreading to the upstream sector, where cement market boom does not come in the peak season on falling demands. Statistics from the Ministry of Commerce...

Shanghai Financial Institutions Plan Wall Street Recruitment.
October 15, 2008... SHANGHAI, October 16, SinoCast -- Shanghai's financial institutions, organized by local financial administration, plan to recruit financial professionals on Wall Street early in December. Securities companies, fund management companies,...

Merrill Lynch Invests USD40mn in Sichuan.
October 15, 2008... CHENGDU, October 16, SinoCast -- Merrill Lynch & Co., one of the former Wall Street's top five investment banks, recently invested about USD 40 million into Sichuan Zhiquan Special Cement, a cement manufacturer in Sichuan, which was badly...

China's Foreign Currency Capital Inflow Slows Down.
October 15, 2008... BEIJING, October 16, SinoCast -- Foreign currency capital that flows into China begins slowing down due to the global financial fluctuations. China's foreign exchange reserves had reached USD 1.9 trillion by the end of September 2008, said...

New Shareholders Bail out Congzhong Auto Service Alliance.
October 15, 2008... SHANGHAI, October 16, SinoCast -- New shareholders are bailing out troubled Congzhong Auto Services Alliance, and the latter is expected to resume operation next week, said sources close to the situation. Congzhong Auto Services Alliance,...

Ping An CIO John Pearce Quitted.
October 15, 2008... BEIJING, October 16, SinoCast -- John Pearce, chief investment officer with Ping An Insurance (Group) Company of China, Ltd. (Ping An, SHSE: 601318 and SEHK: 2318), which owns the nation's third largest life insurer and second largest...

Dalian Futures Trading Volume Hits Record High.
October 14, 2008... DALIAN, October 15, SinoCast -- Trading volume of commodity futures on Dalian Commodity Exchange hit a record high on Monday as prices bottomed out and the Chinese government has concluded decisions to promote agricultural development on the...

Shanghai Sep. Bancassurance Premium Revenue up 2.56%.
October 14, 2008... SHANGHAI, October 15, SinoCast -- 29 Chinese and foreign life insurers in Shanghai, the nation's financial hub, gained premium revenue of CNY 1.281 billion from bancassurance business in September, up 2.56% from the August's CNY 1.249...

Rothschild Banque Lately Touched with China Life.
October 14, 2008... BEIJING, October 15, SinoCast -- Paris-based financial service provider La Compagnie Financiere Edmond de Rothschild Banque, which is trapped by the global financial crisis this time, recently got in touch with China Life Insurance Co., Ltd....

SDB Q1-Q3 Net Profit May Rise 80%.
October 13, 2008... SHENZHEN, October 14, SinoCast -- Chinese city commercial lender Shenzhen Development Bank (SDB and SZSE: 000001) announced today that its net profit for the first three quarters of 2008 was expected to rise 75 percent to 80 percent year on...

Listed Steel Firms to Spur Share Repurchase Spree.
October 13, 2008... BEIJING, October 14, SinoCast -- By now, few listed Chinese companies have repurchased shares from their shareholders. Some analysts believed that after the debut of regulations on the repurchase, the first repurchase deal would happen to...

China Likely to Change Land Value-added Tax.
October 13, 2008... BEIJING, October 14, SinoCast -- Chinese authorities may change the land value-added tax policy to boost fixed-asset investment, said insiders. Fixed-asset investment is key drive to the Chinese economy. Real estate investment accounts for...

Shanghai Composite Index Fall 12% Last Week.
October 13, 2008... SHANGHAI, October 14, SinoCast -- Shanghai Composite Index, which tracks yuan-denominated A shares and foreign-currency B shares, dropped 12.78 percent last week amid the global stock market declines in the wake of financial rout on Wall...

Finance Ministry May Present Trust Company Stake to PICC.
October 13, 2008... BEIJING, October 14, SinoCast -- China's Ministry of Finance would probably transfer its majority stake in China Credit Trust Co. to the People's Insurance Company (Group) of China (PICC) for free in order to put the last polishes to the...

CPIC Q3 Floating Loss May Hit CNY9.347bn.
October 13, 2008... BEIJING, October 14, SinoCast -- China Pacific Insurance (Group) Co., Ltd. (CPIC and SHSE: 601601), which owns China's third largest life insurer and second largest property insurer, is predicted to suffer a floating loss of CNY 9.347 billion...

Agricultural Bank of China Eyes Restructuring.
October 13, 2008... BEIJING, October 15, SinoCast -- State-backed Chinese commercial lender Agricultural Bank of China is expected to make a great breakthrough in its restructuring this year. Substantial moves will be taken to boost the long-awaited...

Sino Life to Move Headquarters to Shenzhen.
October 13, 2008... SHENZHEN, October 15, SinoCast -- Sino Life Insurance Co. plans to move its headquarters from Shanghai to Shenzhen before a listing on Shenzhen Stock Exchange. The life insurer, whose shareholders include Shougang Group, Dalian Shide Group...

Standard Bank of South Africa, ICBC Upgrade Cooperation.
October 10, 2008... BEIJING, October 13, SinoCast -- The Industrial and Commercial Bank of China (ICBC, SHSE: 601398 and SEHK: 1398) and Standard Bank of South Africa are upgrading their strategic cooperation. Standard Bank of South Africa, in which ICBC holds a...

Shares Foreign Firms Hold in Chinese Banks to Be Tradable.
October 10, 2008... BEIJING, October 13, SinoCast -- Shares foreign investors hold in China's top four listed banks become tradable in succession. People in the banking circle believed that those overseas investors would not sell the shares unless they have to....

BAC Will Not Sell Many CCB Shares.
October 10, 2008... BEIJING, October 13, SinoCast -- The lock-up period of 19.133 billion shares Bank of America Corp. (NYSE: BAC) holds in top Chinese commercial lender China Construction Bank (CCB, SEHK: 0939 and SHSE: 601939) will be expired on October 27,...