Thailand Short Interest Weekly (Sep 11th): Bangchak, Thai Oil, PTT GlobalChem, Indorama Ventures

Abstract: We analyzed short interest across the Stock Exchange of Thailand as of September 11th, covering stocks with minimum market capitalization of USD100 million and minimum short interest of USD5 million, and estimate aggregate short interest of USD3,238 million. Aggregate short interest increased 2.6% over the week, outpacing the SET50 index which rose 0.3%, indicating a broadly bearish tilt relative to the market. The largest short positions by value were concentrated in Delta Electronics (USD412 million), Airports of Thailand (USD167 million), and PTT E&P (USD154 million). The sharpest weekly increases in short value were in Thai Oil (+USD14 million, +29.7%), PTT GlobalChem (+USD10 million, +33.4%), Indorama Ventures (+USD7 million, +34.0%), and Bangchak (+USD7 million, +36.2%), while PTT E&P saw the largest short cover at -USD19 million (-10.8%). On a z-score basis, the most statistically significant short builds were in Bangchak and Bangkok Commercial Asset Management (both +2.9 sigma), followed by Kiatnakin Phatra Bank (+2.6 sigma) and Thai Oil (+2.3 sigma).