Temasek Holdings sold its 3.8% stake in Bank of America (BAC) for about $1.3B, at a loss of...

|About: Bank of America Corpora... (BAC)|By:, SA News Editor

Temasek Holdings sold its 3.8% stake in Bank of America (BAC) for about $1.3B, at a loss of about $4.6B. The Singapore state-owned fund said it will continue to shrink its exposure to developed economies. "The world is not so American-centric anymore," a Singapore economist said.