Temasek reduces its Alibaba stake

Temasek Holdings Pte pared its holdings in China's biggest online retailer Alibaba Group Holding Ltd in the fourth quarter while buying shares in other Chinese online companies, including Alibaba's biggest competitor, JD.com Inc.

Singapore's state-owned investment firm sold 548,769 American depositary receipts in Alibaba, leaving it with 47.5 million, according to a filing with the United States Securities and Exchange Commission on Tuesday.

The value of the holding increased by $1.03 billion to $3.86 billion as the shares gained 38 percent in the period.