Temasek Said to Buy China Construction Bank Shares From BofA

Temasek Holdings Pte. bought shares of China Construction Bank Corp., a person with knowledge of the matter said, signaling its increased participation in China’s financial sector as U.S. banks retreat.

Temasek bought about a third of the stock that Bank of America Corp. is selling at HK$4.93 apiece, another person with knowledge of the matter said, declining to be identified because the information hasn’t been announced. Two Chinese institutions will buy the rest of the 10.4 billion shares Bank of America is selling, the person said.