S3 Short Interest reveals where hedge funds are pressing shorts in real time as the index trends higher.

Short interest is building: Across Hang Seng Index (HSI) constituents, short interest has been rising steadily over the past 52 weeks, with a sharper acceleration in recent months.

Bearish sentiment is measurable in real time: Using the S3 Macro Screener, users can chart this build-up clearly. SI % Float has climbed to 7.13%, up from 3.75% one year ago.

Shorts are growing despite the rally: Over the same period, the HSI has gained 792 points (+35%), showing that short sellers have continued to add exposure even as the index rallied.

Two names stand out: Wuxi AppTec and China Hongqiao have seen persistent short selling into strength, with momentum accelerating in Q2 as both hit 52-week highs.

For real-time short positioning across HSI names—including Ping An (2318 HK), BYD (1211 HK), Alibaba Health (241 HK), and Xinyi Solar (968 HK)—S3’s data surfaces flow, crowding, and conviction well before anything shows up in public filings.

2359 HK – Wuxi AppTec (Healthcare) #2 in SI % Float among HSI constituents; $905M in notional short interest

1378 HK – China Hongqiao (Aluminum Producer) #6 in SI % Float among HSI constituents; $1.2B in notional short interest

Want to know more? Access this data in real time using S3’s BLACK APP

The information herein (some of which has been obtained from third party sources without verification) is believed by S3 Partners, LLC (“S3 Partners”) to be reliable and accurate. Neither S3 Partners nor any of its affiliates makes any representation as to the accuracy or completeness of the information herein or accepts liability arising from its use. Prior to making any decisions based on the information herein, you should determine, without reliance upon S3 Partners, the economic risks, and merits, as well as the legal, tax, accounting, and investment consequences, of such decisions.