Temasek Buys $2.3 Billion of Industrial and Commercial Bank of China Shares From The Goldman Sachs Group, Inc.-Reuters

Reuters reported that Singapore state investor Temasek bought $2.3 billion worth of Industrial and Commercial Bank of China (ICBC) Hong Kong-listed shares from seller The Goldman Sachs Group, Inc. Temasek was burned by its financial industry exposure in 2008, hit by stakes in large European and U.S. banks that plunged in the crisis. But it has kept nearly 40% of its investment portfolio in banks it feels are strong and are capturing emerging market growth.