The latest filings from the Hong Kong Stock Exchange show that the National Social Security Fund of China has sold Bank of China H shares (3988.HK) and Industrial and Commercial Bank H Shares (13998.HK). On 8 Feb, their holdings of Bank of China was down from 10.01% to 9.99% sold at the average price of HK$3.356, while the holding of ICBC was down from 15.01% to 14.99%, sold at the average price of HK$5.508 per share.
However, as explained earlier when they sold banks, the Social Security Fund only files notices to the Stock Exchange when their holdings cross a whole percentage point. So In reality, they have sold roughly another 1% in both of the banks. The holding of Bank of China was actually down from 10.95%, not 10.01%, and the holding of ICBC was actually down from 15.95%, not 15.01%. That means between the last time they said they sold these banks shares (i.e. in late August last year) and 8 Feb 2012, they have got rid of roughly 1% of Bank of China and ICBC.
The motivation of the disposals of shares is unclear except they have not stopped selling in the Hong Kong market. But who knows, maybe they want to buy some shares in the A market.