Japanese firms attracting high short interest
13 February 2017 London
Image: Shutterstock
Japanese firms are top of the list of most shorted Asian firms announcing earnings this week, according to IHS Markit data.
Mobile games maker Mynet took first place with just under 15 percent of its shares out on loan, while other technology firms, such as Ignis, also featured prominently.
In a short selling research note, IHS Markit analyst Simon Colvin noted that, much like Nintendo last summer, the bulk of Mynet’s short interest came after its shares more than doubled in price.
“This scepticism has been vindicated in subsequent weeks as Mynet has been unable to sustain the rally in its share price,” Colvin explained.
After Japan, Australian firms are also seeing high levels of short interest shorted ahead of earnings, with Invocare and Perseus Mining garnering the most interest on IHS Markit’s list for the country.
Mobile games maker Mynet took first place with just under 15 percent of its shares out on loan, while other technology firms, such as Ignis, also featured prominently.
In a short selling research note, IHS Markit analyst Simon Colvin noted that, much like Nintendo last summer, the bulk of Mynet’s short interest came after its shares more than doubled in price.
“This scepticism has been vindicated in subsequent weeks as Mynet has been unable to sustain the rally in its share price,” Colvin explained.
After Japan, Australian firms are also seeing high levels of short interest shorted ahead of earnings, with Invocare and Perseus Mining garnering the most interest on IHS Markit’s list for the country.
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