Mystery Short Seller Wipes $4 Billion Off Hong Kong’s Techtronic

A little known short-seller has managed to crush the shares of Hong Kong’s Techtronic Industries Co., wiping out about $4 billion in market value.

Power-tool maker Techtronic fell 19% in Hong Kong after Jehoshaphat Research questioned the company’s accounting methods in a 60-page report. It comes hot on the heels of Hindenburg Research’s allegations of accounting flaws at India’s Adani Group, which erased more than $140 billion of value in the last month.

Techtronic is Jehoshaphat’s biggest target in terms of market capitalization and the first in Asia. The anonymously operated firm, which claims it specializes in “forensic ...