Shanghai
BULL markets are always tough on short sellers. This one in China right now, though, is proving downright brutal.
Bearish wagers on the Shanghai Stock Exchange have climbed more than threefold in the past nine months and reached a record 7.46 billion yuan (S$1.6 billion) on Thursday, a period in which the benchmark equity index jumped 94 per cent.
Across the border in Hong Kong, where the Hang Seng Composite Index has surged 7.6 per cent in just the past two days, the gauge's 20 most-shorted stocks surged 18 per cent on average.
The gains show the dangers of betting against a Chinese market where new investors are flocking to stocks at a record pace and traders have taken out an unprecedented...
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