Deals
Short Bets Have Suddenly Surged for This Chinese Stock
- Short interest on China National Building is near 4-year high
- Proposed Sinoma Merger may not win holders’ approval: Guotai
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Hong Kong bears have found a new target as the city’s stocks trade near their highest in 10 years: one of China’s most indebted cement makers.
Short interest in China National Building Material Co. tripled to a more than four-year high of 12.9 percent on Sept. 14 from just 4 percent a week before, according to data compiled by IHS Markit Ltd. and Bloomberg. The ratio remained elevated at 10.6 percent Tuesday, making it one of the most shorted stocks from more than 2,000 in Hong Kong.