By Jun Luo
(Bloomberg) — Singaporean state-owned investor Temasek Holdings Pte. spent billions of dollars in the second quarter buying shares in US technology giants, just before the sector dropped in July.
Temasek increased the value of its holdings in 11 big tech firms by US$3.3 billion in the three months ended 30 June, according to an analysis of its two most recent 13F filings. The vast bulk of the increase – some $3.2 billion – went into six of those firms: Microsoft Corp., Apple Inc., Nvidia Corp., Alphabet Inc., Meta Platforms Inc. and Amazon.com Inc.
By the end of July, however, most of those companies saw their stocks slide amid concern about the extent of AI-related gains and fears of a recession. Alphabet and Amazon’s share prices have fallen by about 12 per cent since the end of June, while Microsoft’s are down around 7 per cent over that period.
Many of the tech shares held by Temasek have started to recover this…
