In my previous weekly update, I remarked on the disconnect between the headwinds faced by Chinese businesses, and the bullish moves their share prices were making. Despite the challenging backdrop, the relevant benchmarks performed exceedingly well. For instance, the Invesco China Technology ETF (CQQQ) gained a whopping 11.24 percent for the week ending July 10. Even the broader market iShares MSCI China ETF (MCHI) rose a hefty 8.98 percent.
Fast forward a week later and we are finally seeing some reversal. Nevertheless, the market wasn't simply pricing in