Alibaba’s key backer Temasek trims stake, adds rivals JD.com and Pinduoduo in portfolio tweak

Temasek Holdings trimmed its stake in Alibaba Group Holding last quarter while the stock slumped to new lows, and added Chinese e-c0mmerce rivals Pinduoduo and JD.com to its portfolio, according to its latest 13F filing.The Singapore state investment firm cut its holding in Alibaba’s American depositary shares (ADS) by US$361.6 million to US$1.08 billion as the Hangzhou-based company’s value shrank by US$114 billion that quarter over concerns about regulatory crackdown in mainland China.Temasek…