Bank of America has been divesting numerous businesses as of late, including a pending sale of part of its stake in China Construction Bank.  BofA's announcement that it will keep at least half of its shares, has investors unhappy that the bank won't sell more.

BofA holds a 10% stake in CCB. Investors view the $19.6bn share as a prime source of funds as questions as to whether BofA can build enough capital to buffer future financial shocks have helped force the bank's shares down.

CCB president Zhang Jianguo announced Monday that Bank of America is committed to keeping at least a 5% stake in the Chinese lender over the long term. BofA's share dropped 7.9% that same day, the third consecutive day of decline.

BofA's previously divested international assets include its personal credit card businesses in Canada and Spain, along with its entire small business card division. The sales are all aimed at reassuring investors that the bank has enough cash to keep its capital ratios above new minimum regulatory standards. [WSJournal, 8/23/11]