Bank of America sold of part of its holding in China Construction Bank, sending shares in China’s big banks skidding.

Shares in China’s big banks skidded on Wednesday after the Bank of America’s sale of part of its holding in China Construction Bank.

Bank of America said it would nearly double its stake in China Construction Bank, in spite of the spreading global financial crisis.

Bank of America plans to raise its stake in China Construction Bank to nearly 11 percent, by exercising an option it has to buy more common shares of the Beijing-based bank.

Bank of America plans to raise its stake in China Construction Bank to nearly 11 percent, by exercising an option it has to buy more common shares of the Beijing-based bank.