Why Temasek reduced its holdings of Didi?

keepcalm
2022-01-04

Singapore’s state-owned investor Temasek Holdings Pte sold shares of U.S.-listed Chinese technology companies from Alibaba Group Holding Ltd and DiDi Global Inc to online education providers amid regulatory crackdowns. Temasek cut 16% of its stake in e-commerce giant Alibaba and 11% of its shares in ride-hailing service Didi.

This sale in November would have left Temasek with 26 million shares. All told, the top institutional holders have more that 250 million shares of Didi. I don't know why any would hold this name with what is going on. I believe they have fiduciary responsibility to their investors, so they really do have to sell at the best price they can get, which is going down by the day. $DiDi Global Inc.(DIDI)$ $Alibaba(BABA)$

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