The Direxion Daily FTSE China Bull 3X Shares (YINN) soared 8.12% in the last 24 hours, as Chinese authorities signaled their commitment to supporting the economy and capital markets.
According to reports, China's central bank and financial regulators have held meetings with key financial institutions, urging them to swiftly implement expansive policies to bolster the economy and stock markets. This move aims to restore investor confidence and promote stability in the financial sector.
As a leveraged ETF that tracks Chinese stocks, YINN's performance is highly sensitive to changes in the Chinese market sentiment. The prospect of increased government support has buoyed investor optimism, driving up the prices of Chinese equities and, consequently, the value of YINN.
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