Singapore state investor Temasek posts worst returns since 2016
Publishing timestamp: 2023-07-11 08:45:18
Summary
Temasek, Singapore's state investment company, recorded its worst returns in seven years with a 5.07% decline in its one-year total shareholder return. The decline was attributed to a challenging macroeconomic and geopolitical environment, including global events that raised the cost of capital and weighed on capital flows. Temasek's net portfolio value decreased to S$382 billion in 2023 compared to S$403 billion in 2022. Despite the decline, Temasek's returns were relatively favorable compared to global stock market returns. The company is looking to increase investments in India and Southeast Asia and is seeking greater portfolio resilience against market volatility.
Sentiment: NEGATIVE
Tickers: .SPX,
Keywords: s&p 500 index, asia economy, business news, singapore,
Source: https://www.cnbc.com/2023/07/11/singapore-temasek-2023-report.html