Short sellers' No 1 target surges in HK

In Hong Kong, it's hard to find a stock where analysts and short sellers see more dismal prospects than China Huishan Dairy Holdings Co. Thanks to a spurt of buying from the company's chief executive officer, finding a better performer is just as tough.

Shares of the milk producer have soared 90 percent since early July, despite the highest level of short interest in Hong Kong and analyst price targets implying a 46 percent tumble over the next 12 months.

The rally is being fueled by Huishan CEO and controlling shareholder Yang Kai, whose four-month spree of stock purchases accelerated to an almost daily frequency in October and lifted the company's market value to $5 billion.