Singapore fund boosts stake in Standard Chartered to 19%

01/29/2008 | Bloomberg

Singapore's sovereign wealth fund Temasek Holdings bought 14.5 million shares in Standard Chartered Plc last week, increasing its stake in the bank by 1%. "Stanchart is a well-positioned bank in a lot of emerging markets, which represents a good investment," said Wong Kwok Wai, an analyst at BOC International Holdings. "Taking advantage of weak share prices to increase holdings in financial services companies seems to be a strategy of Temasek."

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