The Direxion Daily FTSE China Bull 3X Shares (YINN), a leveraged exchange-traded fund (ETF) that provides triple daily exposure to the performance of Chinese equities, surged nearly 9% in pre-market trading on Monday, September 30th, 2024.

This significant price movement was fueled by a combination of factors, including Beijing's decision to ease restrictions on home purchases and a massive rally in the Chinese stock market. On Monday, the Chinese government announced that it would lower the minimum down payment ratio for first-time homebuyers and ease requirements for non-local buyers in Beijing, aiming to boost demand and prop up the struggling property market.

Additionally, the Chinese equity markets experienced their biggest single-day gain since 2008, with the benchmark Shanghai Composite Index (SHCOMP) soaring around 8% and the blue-chip CSI 300 Index (SHSZ300) rallying 8.5%. This rally was driven by better-than-expected manufacturing data and rising hopes for significant stimulus measures from the Chinese government to support economic growth.