Reuters first to report Bank of America held talks to sell part of it's $17 billion CCB stake

Shares in China Construction Bank, the worlds No. 2 bank by market cap, rose as much as 4 percent on Aug 11 after Reuters reported that Bank of America Corp has held talks with Middle East wealth funds to sell part of its $17 billion stake. Bloomberg and Dow Jones both cited Reuters in their stories and dispatched reporters in an effort to match it. The report drew strong attention from investors and analysts with Deutsche Bank among the research houses citing the story. Several traders called Reuters to say that BofAs intention not to sell the stock in the market was a huge positive and encouraged investors to cut their short positions in the stock. CCB shares rallied in a weak market and in sharp contrast to declines in the shares of China`s three other major banks.

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