Temasek Trims Stake In Icbc, Says Stays Confident In Chinese Banks

In a statement on Friday, Temasek said it remained confident in Chinese banks.
“We remain confident in China and its banking sector, and continue to hold significant positions in Chinese banks.
Singapore state investor Temasek Holdings pared its stake in Industrial and Commercial Bank of China (ICBC) to 8.43 percent from 9.12 percent, as part of a rebalancing of its portfolio in China’s largest bank.
Temasek, one of the world’s biggest state investors, has a large exposure to financials and owns stakes in Chinese banks and Standard Chartered PLC.
“As a long term investor, it is usual for Temasek to rebalance its portfolio from time to time,” the investor said.

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