Just noticed something interesting - Hong Kong ADRs are getting hit pretty hard compared to what's happening in the local market. HSBC, AIA, and HKEX all dropped over 1% from their Hong Kong closes, which is a decent gap. Even Tencent and Alibaba are down nearly 2% on the ADR side. ATMXJ is also taking losses. Seems like there's a decent disconnect between the local market prices and what traders are doing with these ADRs. Worth keeping an eye on if you're holding either side of these positions.

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