These are the 10 Chinese stocks traders have bet the most against since the coronavirus outbreak

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These are the 10 Chinese stocks traders have bet the most against since the coronavirus outbreak
stock market

Reuters

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  • Coronavirus roiled markets Thursday, with investors concerned the flu-like illness will eat into global growth.
  • Nowhere is that concern more potent than in markets and companies with direct links to China.
  • S3 Partners says these are the 10 Chinese companies traded on US exchanges that have seen the biggest short interest since the outbreak.
  • Read more on Business Insider.

Coronavirus, the flu-like illness that has infected over 7,700 people and killed at least 170, has roiled global markets in recent weeks, with investors concerned that the disease could hamper global growth.

JPMorgan slashed its quarterly and yearly growth projection for China yesterday - analysts there say that retail, travel, and transportation sectors will be on the frontlines of a demand-side fallout. In markets, the S&P 500 started out the week with the biggest drop since October, and after a temporary respite from strong earnings reports in the US, stocks resumed their slide Thursday.

Nowhere is that concern stronger than in markets and shares directly linked to China. Chinese markets are closed until February 3 after the government announced Monday it would extent its Lunar New Year trading freeze by three days - but offshore markets have hammered the yuan in the interim.

Meanwhile, investors are also expressing their concern by shorting Chinese exchange-traded funds and companies with listings in US markets. Since the first confirmation of human-to-human transmission of coronovirus on January 20, $337 million worth of new shares have been shorted, according to a research note from S3 partners. These are the 10 companies that have seen the biggest spikes in short interest, according to S3.

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10. Nio

10. Nio

Ticker: NIO

Industry: Auto manufacturing

Value of shares shorted since outbreak: $9,695,588

Source: S3 Partners

9. Weibo

9. Weibo

Ticker: WB

Industry: Internet content and information

Value of shares shorted since outbreak: $10,114,489

Source: S3 Partners

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8. Beigene

8. Beigene

Ticker: BGNE

Industry: Biomedical and genetics

Value of shares shorted since outbreak: $10,354,873

Source: S3 Partners

7. Baozun

7. Baozun

Ticker: BZUN

Industry: Computers and information technology

Value of shares shorted since outbreak: $15,557,810

Source: S3 Partners

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6. GDS

6. GDS

Ticker: GDS

Industry: Telecommunications

Value of shares shorted since outbreak: $15,557,810

Source: S3 Partners

5. Pinduoduo

5. Pinduoduo

Ticker: PDD

Industry: Internet retail

Value of shares shorted since outbreak: $24,695,378

Source: S3 Partners

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4. China Mobile

4. China Mobile

Ticker: CHL

Industry: Telecommunications

Value of shares shorted since outbreak: $29,548,543

Source: S3 Partners

3. Luckin Coffee

3. Luckin Coffee

Ticker: LK

Industry: Restaurants

Value of shares shorted since outbreak: $76,376,200

Source: S3 Partners

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2. Baidu

2. Baidu

Ticker: BIDU

Industry: Internet content and information

Value of shares shorted since outbreak: $96,008,710

Source: S3 Partners

1. Trip.com

1. Trip.com

Ticker: TCOM

Industry: Travel Services

Value of shares shorted since outbreak: $122,745,966

Source: S3 Partners

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