Golden Week Shower

the Chinese cracks accelerate

Although I had to grit my teeth on Monday to hang on to my Chinese stock puts (PDD, JD and YUMC in particular), it looks like the tide may be turning. On this Monday evening (PST) as I am typing this, Hang Seng futures are down sharply, as Chinese traders return from their government-mandated week-long holiday.

The Chinese ETF symbol FXI is, during after…