Chinese closed-end funds are getting to some pretty fat discounts.
CAF -28%
CHN -20%
JFC -19%
GCH -16%
A simple strategy would be to buy this basket and short the China ETF (FXI). Or, one could buy the new double short China ETF (FXP) with the knowledge that it is a double short rebalanced daily.
And my favorite poster child for closed-end fund irrationality, CUBA, is back to parity with its NAV (has traded from a -20% discount to 100% premium).
