From Samsonite to Techtronic: High-Profile Short-Seller Attacks in Hong Kong
- From Samsonite to Man Wah, short sellers have shaken Hong Kong
- Weak market sentiment seen giving rise to such practices
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The case of Techtronic Industries Co. has stirred memories for Hong Kong equity investors of the times when wild swings triggered by attacks by short sellers shook the market.
Hong Kong is familiar with the tactics of investors who bet on stock declines, given the ranks of small-cap companies that are sometimes the target of allegations of murky accounting, market manipulation or fraud. High profile-short sellers such as Muddy Waters and Blue Orca Capital have had rewarding Hong Kong campaigns, though their activity has slowed in recent years.