Wall Street

by Randy Chen

Online Stock Market Trading Bank of America said Thursday that it was acquiring a 9% stake in China Construction Bank for $3 billion. The investment marks the largest foreign bank purchase in China.

China is the most populous country on the planet and is home to more than a 5th of the world's population. It has a history unparalleled anywhere else on the planet and the richness of it's past offers a truly unique travel experience. From the foothills of the Himalaya's to the banks of the mighty Yangzi River, from the jungles of the tropical south to teeming streets of Shanghai, China offers a breadth of experiences to foreign visitors.

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fund manager and longtime Wall Street commentator Jim Cramer explains how to invest wisely in chaotic times, - or should be, when it's done right.

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Stock Investing Game June 18, 2005 (AXcess News) Charlotte NC - Bank of America said Thursday that it was acquiring a 9% stake in China Construction Bank for $3 billion. The investment marks the largest foreign bank purchase in China.

According to this Senior source, China told the U.S. delegation they no longer have faith in U.S. 1) The Federal Reserve Bank ceased publishing "M3" data in March, making it nearly impossible for anyone to know how much cash is being printed. China said this act made it impossible to tell how much a Dollar is worth. 2) The U.S. Dollar has lost upwards of thirty percent (30%) of its value against other foreign currencies in the recent past, meaning China has lost almost $300 Billion simply by holding U.S. Dollars in its reserves.

Journal Prime Rate Street Wall Analysts were mixed in the bank's decision believing that a move into China could be a risky venture that could cause huge losses due to China's banking practices. Others think that Bank of America made the move at the right time, citing China's booming economy.Bank of America was given the right to boost its stake in China Construction Bank to 19.9 percent. B of A Chairman Ken Lewis called the move an opportunity to be involved in one of the world's fastest-paced economies. Lewis gave no indication that Bank of America would up its investment in the state-owned mortgage lender, though he was generally upbeat about the bank's decision to invest in China.

The scary thing is that even if a country doesn' World Bank can potentially scare away foreign investments.

Stock Market News China Construction Bank is one of the four largest banks in China. Bank of America is the third largest bank in the United States.

Stock Investing Basics The move by Chinese officials to open up its banking to foreign investors may be a cry for experienced financial management to help in curbing corruption and bad lending practices before the banking sector is required to open up to foreign competition under international trade agreements.

Stock Investing Software Political analysts feel the move will improve US and China relationships, which have been strained over military buildups and trade issues.

Stock Market Trading Investors are pondering the outcome of Bank of America's move and wondering if other US banks are considering following suit and buy into other Chinese banks.Wells Fargo Bank (NYSE: WFC) closed up 14 cents at $61.59. US Bancorp (NYSE: USB) was unchanged at $29.52. Washington Mutual (NYSE: WM) was up 32 cents at $40.69. Citigroup (NYSE: C) was down 8 cents at $47.69, but in after-hours trading the bank's stock climbed 3 cents. Wachovia Bank Corp. (NYSE: WB) was unchanged at $50.61.Bank of America (NYSE: BAC) closed at $46.64, up 21 cents.

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