The Direxion Daily FTSE China Bull 3X Shares (YINN) experienced a significant surge of 9.82% in the pre-market session on Monday. This rally can be attributed to China's shift in monetary policy, as announced by the Communist Party's Politburo.
China's top policymakers revealed that they will embrace a "moderately loose" monetary strategy next year, marking the first major shift since 2011. This indicates a more accommodative stance, with greater easing measures likely to be implemented to stimulate the economy.
Additionally, authorities stated that they will implement a "more proactive" fiscal policy, suggesting increased government spending and borrowing to support growth. These policy changes were welcomed by investors, leading to a broad rally in China ETFs and ADRs overnight.
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