Temasek bet on Chinese tech firms just before share collapse

China was Temasek’s biggest geographic source of investments as of March 31, making up 27% of its S$381 billion ($280 billion) portfolio - Bloomberg pic

SINGAPORE: Singapore’s Temasek Holdings Pte bought stakes or increased its holdings in several prominent Chinese technology companies shortly before sweeping moves to rein in the private sector caught the market by surprise.

The state-owned investor disclosed its stake in ride-hailing service Didi Global Inc. for the first time and added shares in a range of businesses from search giant Baidu Inc. to online education providers in the second quarter, ahead of a sudden collapse in some Chinese stocks last month, according to its 13F filings late Monday with the U.S. Securities and Exchange Commission.