Short-selling data still falls short

WHEN it comes to short-selling disclosure in the stock market, the goal is to provide investors with a realistic and fairly accurate picture of how widespread the activity is and by extension a handle on the level of bearish sentiment either in individual stocks or the market as a whole.

To this end, Singapore Exchange (SGX) in March last year required trades which are short sales to be marked as such. The exchange then compiles this information in a report that is issued the following morning before the market opens.

As a follow-up to this marking of sell orders, the authoritie…