Foreign Investors Sold Chinese Lenders' Shares in Succession.

BEIJING, January 20, SinoCast -- As some Hong Kong-listed Chinese lenders saw their H-shares become tradable since the end of 2008, foreign shareholders of them successively sold out the Hong Kong-traded share of these Chinese banks. On December 31, 2008, UBS sold 3.378 billion Hong Kong dollar-denominated shares of Bank of China, this cashing in USD 808 million. Another foreign player Bank of America on January 7, 2009 sold 5.6 billion H-shares of China Construction Bank, thus cashing in USD 2.8 billion and reducing its shareholding in construction bank from 19.1% to 16.6%. On the same day, Magnitico Holdings Limited sold two billion of Bank of China's H-shares, from which, …