Direxion Daily FTSE China Bull 3X Shares (YINN) surged over 9% during Wednesday's pre-market trading session, outperforming the broader market as investors cheered China's ambitious economic growth targets and rising US stock futures.
The rally in YINN was fueled by optimism surrounding China's economic outlook. During the annual parliamentary session, Premier Li Qiang announced a growth target of around 5% for 2025, coupled with plans to boost domestic consumption and support the tech industry. This bullish stance from Chinese authorities helped lift sentiment towards Chinese stocks.
Furthermore, the soaring trajectory of US stock index futures added to the positive momentum. Dow futures rose 0.19%, S&P 500 futures gained 0.28%, and Nasdaq 100 futures climbed 0.48%, signaling a potential rebound from the previous session's selloff. As an exchange-traded fund (ETF) designed to provide leveraged exposure to Chinese equities, YINN benefited from the broader market optimism.
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