amazon: Temasek increases stake in Amazon e-commerce company, Pinduoduo

Singapore state investor Temasek Holdings increased its stake in e-commerce companies Amazon.com Inc and pinduodo by more than 15%, according to a securities filing released Monday.

Temasek, one of the largest investors in the world with significant investments in Singapore Airlines, DBS Group and others, first revealed a stake in Amazon in 2017 and in Pinduduo in 2020.

The firm is anchored in Asia, with broad exposure to the region as measured by its underlying assets, most of them in China and Singapore. It stepped up its investments in the United States, particularly in the technology sector.

The fund also sold all of its shares Intel Corp as well as Draftkings Inc a few months after adding a position in the sports betting company, the deposit showed.

He also cut his stake in the Airbnb home rental company and the telecommunications company Lumen technologies respectively 16.7% and 25.3%, as at 31 March, compared to the quarter ended in December. 31

He added NvidiaS&P Global, 1Life Healthcare to its portfolio during the quarter.

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