Chinese bank blocks get 2009 off to a good start

Bank of America pulls off Hong Kong's largest block trade ever, selling $2.8 billion worth of shares in CCB, while Li Ka-shing Foundation raises $511 million from the sale of Bank of China stock.

The new year got off to a positive start yesterday with two sizeable block trades that met with solid demand, suggesting investors are becoming more open to putting their cash to work again û at least for the ôrightö name and at the ôrightö price. Before the market opened Bank of America offloaded $2.8 billion worth of its H-shares in China Construction Bank through the largest block trade in Hong Kong history, and later in the day the Li Ka-shing...

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