Short bets against Contemporary Amperex Technology Co. Ltd.’s Hong Kong shares have dropped sharply, with short interest falling to 15.4% of free float from about 26% a week earlier, the lowest since December, according to S3 Partners. The decline followed a $5 billion share placement that increased share availability and lowered borrowing costs, while shorted shares fell to a five-week low. The move allowed traders to unwind positions built amid a premium to Shenzhen shares. Analysts including

Short bets against Contemporary Amperex Technology Co. Ltd.’s Hong Kong shares have dropped sharply, with short interest falling to 15.4% of free float from about 26% a week earlier, the lowest since December, according to S3 Partners. The decline followed a $5 billion share placement that increased share availability and lowered borrowing costs, while shorted shares fell to a five-week low. The move allowed traders to unwind positions built amid a premium to Shenzhen shares. Analysts including Morgan Stanley cited improving growth visibility, particularly in energy storage and new battery technologies, with most analysts maintaining buy ratings.