SINGAPORE: Short sellers across Asia are being drawn to the health care sector, betting the region’s best-performing industry this year is poised for a retreat.
The daily average amount of short interest among 324 biotechnology and pharmaceutical stocks across Asia’s major equity benchmarks has more than doubled so far this year from 2019, according to data compiled by Bloomberg. Australian firms account for almost half of the top-10 most shorted ones, as they reset operations and seek to win regulatory approval for products in some of the world’s most lucrative markets.