The Direxion Daily FTSE China Bull 3X Shares (YINN) ETF soared by 8.08% in pre-market trading on Wednesday, driven by a broader rally in Chinese stocks and ETFs. This surge comes ahead of a joint briefing scheduled for Thursday by Chinese officials from the Housing Ministry, People's Bank of China, Finance Ministry, and National Financial Regulatory Administration.
The overnight rally saw notable gains across several Chinese companies and ETFs, with KE Holdings rising 5.4%, Tencent Music up 3.7%, Bilibili gaining 1.4%, and PDD Holdings advancing 1%. The bullish sentiment appears to be fueled by anticipation of potential positive news or policy announcements from the upcoming briefing.
Investors are closely watching for any measures aimed at stabilizing China's slowing economic growth and supporting the struggling real estate sector. The Chinese government has been under pressure to roll out further stimulus measures, and any positive developments from the briefing could further bolster the recent rally in Chinese assets.
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