Singapore-based state-owned investment company Temasek Holdings’ equity portfolio has reduced the most since 2004 as it booked some profits and incurred losses on US stocks such as Amazon, Airbnb, Blackrock, and PayPal while holdings in Chinese stocks such as Alibaba Group and others remained stable. As per the regulatory filing, 97 stock portfolios reduced by $5.6bn in Q2 and the value stood at $18.3bn as of June 2022 as global stocks took a beating on the back of rate hikes and recession fears. Temasek expects a more balanced risk-reward profile in Chinese assets, so its stake remained unchanged in Chinese stocks such as $1bn in Alibaba, $89mn in Didi Global, $480mn in BeiGene and $11mn in JD.com.
Temasek’s 5.375% 2039s traded higher 0.25 points to 119.82 to yield 3.80%.
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