Ping An Becomes Biggest Bearish Wager in Hong Kong

Though fund managers say bets against insurer may go wrong
Data: Hong Kong's Securities and Futures Commission,; graphic by Bloomberg Businessweek

Short interest in Ping An Insurance Group Co., China’s largest non-state controlled financial firm, swelled to a record HK$54 billion ($6.9 billion) in June. It’s by far the biggest bearish wager on Hong Kong’s stock exchange. However, top-ranked fund managers and analysts say short sellers may be in for a squeeze, arguing that Ping An’s low valuation, outsize growth and knack for avoiding the government spotlight could extend the stock’s rally this year.

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