The Direxion Daily FTSE China Bull 3X Shares (YINN) fell 5.12% in the pre-market trading session on Thursday, as concerns over slowing Chinese factory activity weighed on the leveraged China-focused ETF.
According to a private survey by Caixin/S&P Global, China's manufacturing activity grew at a slower-than-expected pace in December. The Caixin/S&P Global manufacturing PMI dipped to 50.5 from 51.5 in November, missing analysts' forecasts of 51.7.
The report cited weaker growth in new orders, particularly for exports, as subdued external economic conditions and the threat of new U.S. tariffs pose major risks for China's export-driven economy. Despite some stabilization in economic activity due to recent policy support measures, manufacturers expressed concerns about the growth and trade outlook for 2025, challenging hopes for new product- and policy-driven sales growth.
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