CICC said in a research note that outstanding short positions in Hong Kong as a
share of market value have fallen from a mid‑June peak to 2.43% but remain
roughly more than three standard deviations above the historical mean. As
domestic and external shocks ease, CICC expects significant further unwinding of
shorts. Trading shows notable pair‑trading activity; near term CICC recommends
focusing on high-fundamental-certainty, event‑driven sectors: innovative drugs,
airlines, robotics and industrial metals.
