PIF raises its share in Chinese stock market

Regulatory data revealed that the Public Investment Fund increased its share in the Chinese stock market, as it doubled its stake in Alibaba Holding Group by 41% to reach 1.45 million shares, which is the largest adjustment to its share portfolio amounting to $ 35.5 billion in the past quarter.

While his holdings in two Chinese companies did not change, including Chinese online retailer Pinduoduo Inc which focuses on the traditional farming industry, and biotechnology company, BeiGene.

Singapore’s Temasek Holdings went in the same direction, according to the South China Morning Post, as it boosted its stake in Chinese stocks, including JD Com, JD or Jingdong Market, and maintained its position with five other Chinese companies, among them, Alibaba

The sovereign funds’ bullish bets on Chinese stocks were in stark contrast to the bearish mood among global investors, who reduced their exposure amid a disappointing market and mounting geopolitical risks.