The Direxion Daily FTSE China Bull 3X Shares (YINN), an exchange-traded fund that aims to deliver triple the daily returns of the FTSE China 50 Index, witnessed a remarkable surge of 6.17% intraday on Wednesday, outperforming the broader market.
This rally was fueled by Wall Street's growing optimism regarding Chinese stocks, particularly in the AI and technology sectors, driven by China's groundbreaking advancements in artificial intelligence (AI) technology, such as the DeepSeek model.
Several prominent Wall Street firms, including Morgan Stanley, JPMorgan Chase & Co., UBS Group AG, Goldman Sachs, and Deutsche Bank, have expressed bullish sentiments about the prospects of Chinese stocks. They believe that China's AI breakthroughs have challenged previous assumptions about the country's technological capabilities, sparking a reassessment of its investability.
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