SingPost short interest spikes on uncertain direction and smaller scale

[SINGAPORE] The short interest in Singapore Post (SingPost) shares has been surging since July, catapulting the counter to the top shorted stock on the Singapore Exchange, S&P Global Market Intelligence analysis showed.

Nearly 5 per cent of its outstanding shares were on loan as at Oct 3.

Concerns emerged over its reduced operational scale and uncertain strategic direction, leading to short interest – defined as the percentage of outstanding shares on loan – building up from late July.