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INVESTMENTS
 12 Months Ended
Dec. 31, 2021
INVESTMENTS [Abstract]  
INVESTMENTS

8.
INVESTMENTS



The following table sets forth a breakdown of the categories of short-term and long-term investments held by the Company:


   
As of December 31,
  
   
2020
    
2021
  
    $
     $
  
Short-term investments
                
                 
Debt securities:
                
   Held to maturity
    
28,330
      
869,931
  
   Available-for-sale
    
21,769
      
28,166
  
Equity securities
    
76,000
      
13,184
  
     
126,099
      
911,281
  
Long-term investments
                
                 
Debt securities:
                
   Held to maturity
    
68,854
      
66,071
  
   Available-for-sale
    
5,276
      
192,139
  
Equity securities
    
21,419
      
463,934
  
Equity method investments
    
94,933
      
152,419
  
Investments carried at fair value
    
–
      
178,298
  
     
190,482
      
1,052,861
  



Held to maturity investments includes time deposits placed with financial institutions and sovereign bonds. Available-for-sale securities includes sovereign bonds, exchangeable loan, convertible loan, corporate bonds and redeemable preference shares of investees.



The net unrealized fair value loss of nil, $24,150 and $63,434 related to the marketable equity securities had been recognized in the consolidated statements of operations as "Net investment gain (loss)" during the years ended December 31, 2019, 2020 and 2021, respectively.

   

The following table summarizes the cost or amortized cost, gross unrecognized gains and losses, gross unrealized gains and losses, and fair value of the Company’s debt securities and investments carried at fair value as of December 31, 2020 and 2021:
   
As of December 31, 2020
        
   
Cost or
Amortized
cost
    
Gross
unrecognized
gains
    
Gross
unrecognized
losses
    
Gross
unrealized
gains
    
Gross
unrealized
losses
    
Fair value
  
    $
     $
     $
     $
     $
     $
  
Short-term investments
                                                
Debt securities:
                                                
   Held to maturity
    
28,330
      
–
      
(1
)
    
–
      
–
      
28,329
  
   Available-for-sale
    
20,859
      
–
      
–
      
910
      
–
      
21,769
  
                                                 
Long-term investments
                                                
Debt securities:
                                                
   Held to maturity
    
68,854
      
3,197
      
(23
)
    
–
      
–
      
72,028
  
   Available-for-sale
    
5,174
      
–
      
–
      
102
      
–
      
5,276
  
     
123,217
      
3,197
      
(24
)
    
1,012
      
–
      
127,402
  


   
As of December 31, 2021
        
   
Cost or
Amortized
cost
    
Gross
unrecognized
gains
    
Gross
unrecognized
losses
    
Gross
unrealized
gains
    
Gross
unrealized
losses
    
Fair value
  
    $
    $
    $
    $
    $
    $
 
Short-term investments
                                                
Debt securities:
                                                
   Held to maturity
    
869,931
      
26
      
(10
)
    
–
      
–
      
869,947
  
   Available-for-sale
    
28,190
      
–
      
–
      
40
      
(64
)
    
28,166
  
                                                 
Long-term investments
                                                
Debt securities:
                                                
   Held to maturity
    
66,071
      
2,354
      
(181
)
    
–
      
–
      
68,244
  
   Available-for-sale
    
192,257
      
–
      
–
      
1,287
      
(1,405
)
    
192,139
  
Investments carried at fair value
    
151,227
      
–
      
–
      
27,071
      
–
      
178,298
  
     
1,307,676
      
2,380
      
(191
)
    
28,398
      
(1,469
)
    
1,336,794