Stock Track | YINN ETF Plunges 6% as China Stimulus Disappoints Markets

Stock Track

Oct 17, 2024

The Direxion Daily FTSE China Bull 3X Shares ETF (YINN) plummeted nearly 6% in pre-market trading on Tuesday, as Chinese stocks and ADRs fell sharply following a disappointing policy briefing from the Chinese government.

Investors were hoping for a strong pro-growth stimulus package to revive the faltering rally in Chinese markets, but the briefing largely reiterated previous measures and failed to deliver the kind of significant fiscal firepower that traders had anticipated.

Other Chinese stocks and ETFs also tumbled, with KE Holdings down 7%, Li Auto dropping 4.3%, XPeng falling 4%, Nio down 3%, JD.com shedding 2.5%, PDD Holdings losing 2%, and Alibaba slipping 1%. The market response suggests that authorities face a high bar to satisfy traders and restore confidence in the Chinese economy.

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The market response suggests that authorities face a high bar to satisfy traders and restore confidence in the Chinese economy.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"YINN","symbol_name":"三倍做多富时中国ETF-Direxion","start_time":0,"source_url":"","article_id":"1125982382","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1125982382","pubTimestamp":1729154300,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"The Direxion Daily FTSE China Bull 3X Shares ETF  plummeted nearly 6% in pre-market trading on Tuesday, as Chinese stocks and ADRs fell sharply following a disappointing policy briefing from the Chinese government.Investors were hoping for a strong pro-growth stimulus package to revive the faltering rally in Chinese markets, but the briefing largely reiterated previous measures and failed to deliver the kind of significant fiscal firepower that traders had anticipated.Other Chinese stocks and ET","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"YINN":"三倍做多富时中国ETF-Direxion"},"translate_title":"由于中国刺激措施令市场失望，股票跟踪YINN ETF暴跌6%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"YINN":1},"content_text":"The Direxion Daily FTSE China Bull 3X Shares ETF (YINN) plummeted nearly 6% in pre-market trading on Tuesday, as Chinese stocks and ADRs fell sharply following a disappointing policy briefing from the Chinese government.\nInvestors were hoping for a strong pro-growth stimulus package to revive the faltering rally in Chinese markets, but the briefing largely reiterated previous measures and failed to deliver the kind of significant fiscal firepower that traders had anticipated.\nOther Chinese stocks and ETFs also tumbled, with KE Holdings down 7%, Li Auto dropping 4.3%, XPeng falling 4%, Nio down 3%, JD.com shedding 2.5%, PDD Holdings losing 2%, and Alibaba slipping 1%. 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