Asia Equity Shorts Keep Building with no Sign of Sentiment Shift
Dow Jones12:08
0408 GMT - Bearish momentum is building in Asian equities, with sentiment yet to stabilize given the absence of meaningful long participation, Citi analyst David T. Chew says in a note. Asia had the weakest positioning dynamics globally last week, and new short accumulation continued in South Korea's Kospi and Japan's Nikkei, the analyst says. Net positioning is moderately bearish in both indices, but the more concerning sign is the lack of evidence that an equilibrium is being reached or of any early shift in sentiment, Chew says. The Kospi is down 3.8% at 5550.72 and the Nikkei is down 1.0% at 64253.78.
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