Temasek Holdings Posts First Loss in Seven Years

July 07, 2016 by Loch Adamson

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Singapore's skyline Early today, Singaporean state investor Temasek Holdings unveiled a 9 percent decline in the value of its assets over the twelve months to March 31, 2016 — the portfolio is now worth S$242 billion ($180 billion), down from S$266 billion ($194 billion) a year ago. Temasek’s negative results — its first losses after a seven-year winning streak — come as the direct and indirect result of China's expansionary fiscal policies. Although China’s lavish state spending programs previously propelled growth rates in emerging markets, it eventually triggered stock-market volatility in the second half of 2015. The market turbulence began in earnest on June 12, 2015; within a month, most Chinese A-shares traded on the Shanghai Stock Exchange had lost one-third of their value. On August 24 — a day subsequently dubbed Black Monday — Temasek watched with apprehension as the Shanghai index fell by 8.5 percent, locking…

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