The inquiry into Chinese subsidies for clean cars lowered its Hong Kong-listed shares by 3.8%.
The EU probe adds pressure to BYD after short sellers poured into the stock on anticipation for Berkshire Hathaway Inc to reduce its stake.
Short interest in the Chinese EV manufacturer surged to a level last seen in November 2021, with bearish positions against the firm accounting for about 4.4% of outstanding shares as of Tuesday, according to IHS Markit Ltd. data. The EU probe may add near-term selling pressure for BYD after short sellers piled into the stock amid a recent rally and on anticipation for Berkshire Hathaway Inc to reduce its stake in the carmaker, said Steven Leung, executive director at Uob Kay Hian Hong Kong Limited.
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