The Direxion Daily FTSE China Bull 3X Shares ETF (YINN), a leveraged fund that aims to deliver three times the daily returns of an index tracking major Chinese stocks, skyrocketed by 18.18% on November 7th, 2024. The surge was fueled by a combination of robust Chinese export figures and heightened expectations for further economic stimulus from Beijing.

According to the latest trade data, China's exports jumped by a staggering 12.7% year-over-year in October, far exceeding analysts' forecasts of a 5% increase. This marked the fastest growth rate in 27 months and contributed to a record trade surplus of $95.27 billion, the largest since June. The stronger-than-anticipated export performance was widely interpreted as a positive sign for the Chinese economy, sparking renewed buying interest in China-related assets like YINN.

Adding to the optimism, investors anticipated that Chinese authorities would announce more aggressive stimulus measures following the conclusion of the country's top legislature meeting on Friday. Hopes were high that the export figures, coupled with the ongoing trade tensions with the U.S., would prompt Beijing to introduce additional policy support to cushion any potential economic impact from tariffs or other trade barriers.