I just wanted to see if anyone else here knows a little more than me about the current market conditions in Hong Kong, relative to China and the rest of southeast Asia: i.e. stronger, weaker, ect... I bought some June 20.00 strike calls for the etf EWH, when it was hovering in the mid 18's. Basically on the premise that the Hong Kong and Chinese market were recouping from the excessive hits that they had taken since November of last year. The Hang Seng rose substantially a couple of weeks ago, and EWH hit $20, but in the last couple of days, they've both been taking some serious hits, and EWH sits a little over $19.
I'm just looking for a little insight or reasons to as why the Hang Seng has done so poorly in the last couple of days, and any factors that will define its immediate future, i.e. rising price of the dollar.
-mgrass