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Temasek Sold Alibaba Shares Last Quarter, Added Gilead

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Temasek Holdings Pte sold shares in Alibaba Group Holding Ltd. in the fourth quarter as the biggest Chinese e-commerce company’s shares rallied following its initial public offering, and put more money into pharmaceuticals maker Gilead Sciences Inc.

Singapore’s state-owned investment firm sold 7.3 million American depositary receipts in Alibaba, leaving it with 10.7 million shares, according to a Feb. 13 filing with the U.S. Securities and Exchange Commission. The value of the holding declined by $487.5 million, the biggest decrease among the firm’s U.S.-listed stakes.