Chitchat Temasick Lost BIG with China stocks (this is truly buy high liao!)

[Scrooball (clone)]

Major hedge funds took stakes in Didi before probe announcement, U.S. filings show​

PUBLISHED MON, AUG 16 20218:50 PM EDT

• Several well-known hedge funds made big bets on Chinese ride-hailing company Didi, which went public in June just before Chinese regulators announced a probe.
• Didi raised $4.4 billion in its U.S. initial public offering on June 30, selling 316.8 million ADRs.
• Early July, China’s cyberspace regulator said it was probing the company, sending Didi’s stock tumbling.

In this article

• DIDI+0.28 (+3.39%)

A mobile phone shows the interface of Didi’s APP in Yichang, Hubei province, China, July 4, 2021.
Costfoto | Barcroft Media | Getty Images
Well-known hedge funds made big bets on Didi Global, which went public in June just before Chinese regulators announced a probe of the ride-hailing company and its share price plummeted, new filings showed.

Singapore’s state fund Temasek bought 33 million American Depository Receipts (ADRs) in Didi, while T. Rowe Associates bought 10.2 million ADRs in the Chinese company, the filings through June 30 showed on Friday.

Tiger Global Management and U.S.-based Adage Capital Partners also disclosed sizeable stakes in Didi. Billionaire George Soros’ fund bought 2.72 million of Didi ADRs.
The filings provide more insight into some of the global investors who were potentially exposed to the company’s sudden loss in value.

Read more about China from CNBC Pro​

JPMorgan downgrades Tencent Music as company faces regulatory hurdles in China
Jefferies picks the Chinese stocks likely to benefit from an aging population
Beijing’s crackdown hangs over China markets, but some stocks may be getting less risky

Didi raised $4.4 billion in its U.S. initial public offering on June 30, selling 316.8 million ADRs. On July 2, China’s cyberspace regulator said it was probing the company, sending Didi’s stock tumbling. Its shares are down more than 40% from its debut.

During the quarter, Temasek also upped its stake in TAL Education Group and took a stake in New Oriental Education and Technology Group of 1.7 million ADRs, two other U.S.-listed Chinese companies hit by Beijing’s regulatory crackdown.
The “13F” filings that hedge funds are required to file quarterly with the Securities and Exchange Commission do not disclose the date purchases were made. They give a snapshot of fund managers’ stock holdings as of June 30.

That makes it unclear exactly when investors bought shares in Didi and whether they made or lost money.
Some investors appeared to sour on other China stocks, shedding their holdings in Chinese tech giants during the quarter.
U.S.-based Appaloosa cut by more than half its 1.1 million ADS stake in China’s Alibaba, Monday’s filings showed. Soros Fund Management dissolved its stakes in Baidu and Tencent Music Entertainment, according to the Friday filing.

 

[syed putra]

These tech bosses should all become members of the communist party.

 

[vamjok]

I also goondo lose money with Temasek this time round. But I am going to use this chance to buy regularly in monthly, this is a rare chance to buy at a discount. The future is with China, now don't enter near future sure regret.

we will all thanks winnie the pooh in near future for this chance.

 

[laksaboy]

I also goondo lose money with Temasek this time round. But I am going to use this chance to buy regularly in monthly, this is a rare chance to buy at a discount. The future is with China, now don't enter near future sure regret.

we will all thanks winnie the pooh in near future for this chance.

Nope. Don't get burnt. Invest in China only after regime change. Right now it's just flushing your money down the toilet.

 

[eatshitndie]

prc is going back to maoist commie hole. will be decades before the damage is over and “capitalist” tendencies with deng characteristics return. you’re wasting money and time. got rid of my baba and nio stocks already before the crackdown.

 

[CPTMiller]

Nothing will change and Temasek is still Singapore Number 1. Who else have that amount of funding support backend??

 

[Leckmichamarsch]

These tech bosses should all become members of the communist party.

CCP better than UMNO n makan wang parties

 

[pvtpublic]

prc is going back to maoist commie hole. will be decades before the damage is over and “capitalist” tendencies with deng characteristics return. you’re wasting money and time. got rid of my baba and nio stocks already before the crackdown.

why u never warn Temasek... haiya.

 

[eatshitndie]

why u never warn Temasek... haiya.

they never consulted me.

 

[laksaboy]

why u never warn Temasek... haiya.

No need to feel sad... the money Temasek earns doesn't trickle down to you anyway.

However, its losses will be reimbursed by you eventually.

 

[Scrooball (clone)]

No need to feel sad... the money Temasek earns doesn't trickle down to you anyway.

However, its losses will be reimbursed by you eventually.

U think those masks that Temasick gave out to u morons were free right? haha... oh and the little finger device thing. Hope u guys enjoyed it!

Some enterprising Sinkie is re-selling it at a healthy markup

 

[batman1]

It's OK.We have lost touch of how many billions she already lost.

 

[Scrooball (clone)]

Yahoo released this scathing update on how much Temasick lost!

https://sg.yahoo.com/finance/news/t...ies-just-before-share-collapse-021414649.html

 

[Patriotmissile]

I can guarantee u those people who work in Temasek or GIC either doze off at their stations , in their cubicles or fucking people's wives in their office rooms. If not, they will be taking 3 breaks a day outside, in hotels and cafes.

 

[Scrooball (clone)]

These morons bought at the very peak! I can safely say that my investment track record is way better than them. There's no way they can recover from those steep losses for at least 3 fucking years.

 

[pvtpublic]

they never consulted me.

Jamie Oliver didn't consult Uncle Roger either. But Uncle Roger sure as hell gave Jamie a schooling on how to make fried rice

 

[pvtpublic]

However, its losses will be reimbursed by you eventually.

that's what worries me bro. the more Temasek makes, the less they have to come to us.

kns, now with all the debacles they will have to come to us eventually. selling 50 year bonds is just the beginning.

 

[Scrooball (clone)]

This is probably the tip of the iceberg. These morons always trumpet about their 'good' investments after the fact. But these type of big losses typically go under the radar unless someone picks it up and reports.