Stick a Fork in the Hang Seng

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Despite the misleading name, the iShares FTSE/Xinhua China 25 Index (NYSE:FXI) does not track the SSEC (Shanghai Comp. Index), but actually more accurately tracks the Hang Seng Index.



So what this means is that FXI is actually a good way to play the Hang Seng, which is known to be more volatile than the S&P500 or even Nasdaq for that matter. Most of the Asian indicies have a tendency to follow the lead of the American Exchanges, meaning that most of the Asian indicies are trading in the red right now, led by the Taiwan Index with a 4% plunge that rivals the COMPQ.

Anyways, I just thought it was interesting that ProShares came out with the inverse ETF that tracks the inverse of FXI - the FXP. I will be watching that one for this coming week. Based on the current action in the Hang Seng (down over 1.2% currently), FXP will most likely gap up tomorrow (Monday) to start off the week.