什么是空头回补？

中文版：

空头回补（Short Covering）是金融市场中的一种现象，它发生在投资者将之前卖出的股票或其他资产买回来，以平掉之前的空头仓位。当投资者预测某个股票或资产的价格会下跌时，他们可能会选择卖空，即借入该资产并立即卖出，期望在价格进一步下跌后再买回来归还，从中获利。然而，如果市场走势与预期相反，即股票或资产价格上涨，空头投资者将面临亏损的风险。为了避免进一步的损失，这些投资者会选择在价格上涨时回补空头仓位，即买入之前卖出的股票或资产。

空头回补行为通常会对市场产生一定的影响。当大量空头投资者在同一时间回补仓位时，市场上的买盘会突然增加，这可能导致股票或资产价格进一步上涨。这种上涨往往被称为“空头回补行情”。空头回补不仅可以帮助投资者减少亏损，同时也是市场自我调节机制的一部分，有助于市场的稳定。

英文版：

What Is Short Covering?

Short covering is a phenomenon in financial markets that occurs when investors buy back previously sold stocks or other assets to close out their short positions. Investors may choose to sell short when they predict that the price of a particular stock or asset will decline. This involves borrowing the asset and selling it immediately, hoping to buy it back at a lower price later to return it and profit from the difference. However, if the market moves contrary to their expectations, causing the stock or asset price to rise, short investors face the risk of losses. To avoid further losses, these investors choose to cover their short positions by buying back the sold stocks or assets when prices rise.

Short covering typically has an impact on the market. When a large number of short investors cover their positions at the same time, there is a sudden increase in buying interest, which can lead to further price increases in the stock or asset. This rise is often referred to as a "short covering rally." Short covering not only helps investors reduce their losses but is also part of the market's self-regulating mechanism, contributing to market stability.