Uptrend for these six S-chips seems to have stalled

SINGAPORE (June 9): Six S-chips on the uptrend are coming under short-term pressure given certain H-shares in Hong Kong have become the focus of attacks by short sellers of late.

In the past month, Man Wah Holdings, formerly listed on the Singapore Exchange, and AAC Technologies were attacked by short sellers. Last December, China Huishan Dairy was also hit, forcing it to suspend trading earlier this month.

One S-chip feeling the heat is Yangzijiang Shipbuilding ($1.22). The stock is experiencing a sharp fall in quarterly momentum just as prices were easing. The 50-day moving average is a $1.19, while its resistance is established at $1.26.

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