Singapore's Temasek said Tuesday most of its investment capital will keep going into the U.S. with the state investment company focusing on the early adopters of AI among traditional industries in the country.
Temasek, which did not give an exact breakdown of its exposure to U.S. assets, said Americas region constituted 22% of its portfolio.
The firm, whose portfolio value rose by nearly 2% to $389 billion Singapore dollars ($288 billion) in its financial year ended March, added that it was cautious on the Chinese market.
Overall, Temasek will maintain a cautious approach and will continue to monitor government policies in the world's second largest economy, the state investor said.
Chinese assets made up 19% of Temasek's portfolio, down from 22% in the 2023 financial year.
Persons:
Rohit Sipahimalani, Chia, Hwee
Organizations:
Singapore's Temasek, CNBC, Temasek, Singapore, Companies
Locations:
U.S, Americas, China