The Direxion Daily FTSE China Bull 3X Shares (YINN) saw a remarkable surge of 5.05% in the intraday trading session on Tuesday. This rally comes amid China's top diplomat expressing optimism for a collaborative relationship with the incoming Trump administration in the US.
In a statement, Chinese Foreign Minister Wang Yi stated, "We hope the new U.S. administration will make the right choice and work with China in a mutually-beneficial manner to remove disruptions and overcome obstacles." This remark follows comments from President-elect Trump acknowledging the strain COVID-19 had put on his relationship with Chinese President Xi Jinping.
The positive prospects for improved China-US relations have fueled investor confidence, driving the YINN, a leveraged bull fund tracking Chinese equities, to soar on Tuesday. As tensions between the two global powers ease, markets are anticipating potential benefits for Chinese stocks and related investment vehicles like YINN.
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