Temasek bet on Chinese tech firms just before share collapse

Many of Temasek’s listed Chinese investments have dramatically slumped in value amid heavy crackdowns by Beijing and heightened scrutiny by US regulators.

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 with the US Securities and Exchange Commission. A spokesman for Temasek declined to comment.