The Direxion Daily FTSE China Bull 3X Shares (YINN) plummeted 5% in pre-market trading on Friday, as Chinese authorities failed to provide concrete details on economic stimulus measures despite vowing to boost consumption.

The sharp drop in YINN, a leveraged ETF tracking Chinese stocks, came after China's top officials largely repeated language from an earlier policy meeting this week, pledging to use looser monetary tools, raise the deficit ratio, and stabilize home prices in 2025. However, traders viewed the readout as devoid of specific details about what stimulus measures the government would take to revive growth next year.

Investors had been hoping for more clarity on fiscal stimulus plans from China's key policy meeting, as concerns mount over the country's economic slowdown and its impact on corporate earnings. The lack of concrete measures from policymakers has left markets guessing and disappointed those anticipating a more aggressive boost to consumption and growth.