Data show shorties simple average price for supermx is about 5.78, topglove is 5.78, with current market price, they suffer more than 10% paper loss. For shorties to profit, they hv to buy back at lower price than their average shorted price.
If they cannot afford see further paper loss and continuously pay interest for their borrowed shares, they hv to cover back their short position by buying back at higher current price .
Coronavirus: Japan death toll tops 5,000; Malaysia cases hit new daily high | South China Morning Post
https://www.scmp.com/news/asia/east-asia/article/3118975/coronavirus-japan-death-toll-tops-5000-malaysia-cases-hit-new
https://www.scmp.com/news/asia/east-asia/article/3118975/coronavirus-japan-death-toll-tops-5000-malaysia-cases-hit-new
South China Morning Post
Japan virus death toll tops 5,000; Malaysia cases hit new daily high
The pace of deaths has accelerated recently, forcing Japanese PM Suga to declare a state of emergency in 11 prefectures.
https://www.theedgemarkets.com/article/gas-malaysia-lowers-average-selling-price-rm2214mmbtu-1q21#:~:text=14%2FMMBtu%20for%201Q21,-Anis%20Hazim%20Sharudin&text=KUALA%20LUMPUR%20(Jan%2012)%3A,1Q21)%2C%20which%20is%20RM11.
The Edge Markets
Gas Malaysia lowers average natural gas selling price to RM22.14/MMBtu for 1Q21
KUALA LUMPUR (Jan 12): Gas Malaysia Bhd has set the average natural gas selling price for the distribution segment of its unit Gas Malaysia Energy and Services Sdn Bhd at RM22.14 per million British thermal units (MMBtu) for the first quarter 2021 (1Q21)…
Lower natural gas price benefited Glove n steel as both industries are big users of natural gas