Singapore's Temasek Holdings raise stake in China Construction Bank for US$2.8 billion

Singapore's state-owned investment firm Temasek Holdings has acquired China Construction Bank shares worth HK$21.7 billion (US$2.8 billion) following nearly two months of shedding its holdings. Assistant Professor Eugene Tan said Temasek's repurchase "reflects a long-term confidence in the Chinese economy and Chinese banking sector."