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Temasek Assets Drop First Time in Seven Years on China Rout

  • Singapore state firm boosts telecom, media, tech holdings
  • U.S. now biggest country in portfolio after Singapore, China
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Temasek Holdings Pte’s portfolio declined for the first time in seven years as its holdings, a quarter of which are in Chinese equities, were battered by last year’s market rout.

The value of Temasek’s stakes decreased 9 percent to S$242 billion ($179 billion) in its fiscal year ended March 31, according to the Singapore state investment firm’s annual review released Thursday. Assets fell from a record S$266 billion in the prior fiscal year and dropped for the first time since the 12 months ended March 2009.