SMIC's Short Selling Scale Hits Historical Peak
Claire Weston
SMIC's single-day short-selling hit HK$3.531 billion on May 26, an all-time HKEX record; semiconductor shorts broadly surged while internet-stock shorts cooled.
How extreme was the record?
Short-sold shares surged to 40.36 million on May 26, with short value reaching HK$3.531 billion — both all-time HKEX highs.
In plain terms = in one day, the capital betting against SMIC's price exceeded some mid-cap stocks' entire monthly turnover.
How did the pressure build up?
At the start of May, short volume was just 3.2025 million shares worth HK$227 million; by mid-month it had climbed to 10.339 million shares and HK$896 million.
This means → short interest multiplied several times in under a month. The May 26 spike was not a sudden event but the peak of a steady escalation.
Why are semis being shorted while internet stocks cool off?
HKEX data show internet-stock short-selling has recently pulled back, while semiconductor shorts moved in the opposite direction, hitting an all-time sector high.
This reflects a widening divergence in how capital views the two sectors: internet bears are stepping back, semiconductor bears are doubling down.
Put simply = the market is not broadly bearish on Hong Kong tech — it is concentrating its negative bets on one sector: semiconductors.
Content is for reference only, not financial advice.