Temasek says it's 'bullish' on China outlook

SINGAPORE - Temasek Holdings Pte, Singapore's state-owned investment company, is "bullish" on China and is seeking deals even after selling some of its stakes in two of the nation's banks this week for $3.6 billion.

"China is our largest investment destination," said Nagi Hamiyeh, Temasek's managing director of investment, in Singapore on Thursday. "We are still looking for opportunities in China and we are very comfortable with our position there at this time."

Temasek, which sold shares in China Construction Bank Corp (CCB) and Bank of China Ltd (BOC) this week, said on Wednesday that the sale was part of its "portfolio rebalancing". The world's fastest-growing major economy accounts for more than 20 percent of Temasek's overall portfolio and it remains "heavily invested" in the two banks, Hamiyeh said.