Citigroup says Asian equity positioning remains skewed toward shorts, with the Nikkei carrying the heaviest short exposure. Global equity positioning has weakened as investors turn defensive, and over the past week regions have seen a near-continuous reaccumulation of short positions. In Asia the Nikkei and Korea's KOSPI show particularly high short interest while long participation remains limited. That creates asymmetric upside risk: even modest positive catalysts could trigger pronounced shor

Citigroup says Asian equity positioning remains skewed toward shorts, with the Nikkei carrying the heaviest short exposure. Global equity positioning has weakened as investors turn defensive, and over the past week regions have seen a near-continuous reaccumulation of short positions. In Asia the Nikkei and Korea's KOSPI show particularly high short interest while long participation remains limited. That creates asymmetric upside risk: even modest positive catalysts could trigger pronounced short-covering rallies, especially in the Nikkei and KOSPI.