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Singapore state investor Temasek to focus on early adopters of AI in the U.S.; cautious on China ========== Singapore state investor Temasek plans to focus on early adopters of AI in the U.S. and be cautious on the Chinese market. Temasek's chief investment officer, Rohit Sipahimalani, stated that while the U.S. overall appears to be expensive, the S&P equal weight index is below its long-term average. Temasek's portfolio value rose to $389 billion Singapore dollars ($288 billion) in its financial year ended March. The firm is also optimistic about opportunities in India and Japan. Temasek's exposure to U.S. assets is not specified, but the Americas region constituted 22% of its portfolio. Chinese assets made up 19% of Temasek's portfolio, down from 22% in the previous financial year. Temasek is cautious about the Chinese market due to structural challenges and the need for an increase in domestic demand. The firm sees opportunities in sectors such as biotech, robotics, electrification, and the electric vehicle value chain. Temasek is also looking to invest in Japan, where it has seen a pickup in foreign investor interest. The firm has increased its exposure to Japan to 1% and is interested in co-investments alongside private equity funds. Temasek also sees opportunities in India and Europe, particularly in the green energy transition. For the 2024 financial year, Temasek has made SG$26 billion of investments into sectors such as technology, financial services, and healthcare. Temasek's mark to market net portfolio value stood at SG$420 billion. The firm does not have a specific target ratio for unlisted and listed assets in its portfolio but will invest when it finds the right opportunities. Temasek's one-year total shareholder return was up 1.6%, while the 10-year total shareholder return held steady at 6%. The company divested SG$33 billion for the financial year, resulting in a net divestment of SG$7 billion. #Temasek #Ai #Us #China #Investments #Portfolio #Japan #India #GreenEnergy https://www.cnbc.com/2024/07/09/singapore-state-investor-temasek-to-focus-on-early-adopters-of-ai-in-the-us-cautious-on-china-.html