FXP July 19, 2013
Posted by professor at July 19th, 2013
I just happened to notice that while most of the Asian markets closed significantly lower overnight, Hong Kong actually closed up 17 points. This is very strange because the Asian markets usually tend to trade together, just like Europe. So with Japan and Shanghai both off 1.5 percent, it’s very strange to see Hong Kong close up.
FXP is basically an ETF that shorts the 30 largest stocks on Hong Kong’s HSI. So with the HSI closing slightly up, it appears that my patience will continue to be tested.
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