US bank J.P. Morgan Chase has cut its stake in Harbin Brewery, according to records from Hong Kong's stock exchange.

J.P. Morgan sold 13.912m shares in the Chinese brewer at between HK$4.66 and HK$4.84 apiece on 7 May, the stock exchange's website reported. The bank's stake in the brewer has subsequently fallen to 8.02% from 9.41%.

Harbin looks set to be the battleground this summer for a takeover fight between SABMiller and Anheuser-Busch.