Temasek to cut 16% of its stake in Alibaba

SINGAPORE (BLOOMBERG) - Singapore's investment company Temasek sold shares of US-listed Chinese technology companies from Alibaba Group Holding to Didi Global to online education providers amid regulatory crackdowns.

Temasek cut 16 per cent of its stake in e-commerce giant Alibaba and 11 per cent of its shares in ride-hailing service Didi, according to a 13F filing for the three months ended Sept 30. It exited Chinese search engine operator Baidu, TAL Education Group, New Oriental Education & Technology Group, and job service provider Kanzhun.