Stock Track | Direxion Daily FTSE China Bull 3X Shares Soar on Policy Support Hopes

Stock Track

Oct 24, 2024

The Direxion Daily FTSE China Bull 3X Shares (YINN) surged 5.51% in pre-market trading on Tuesday, riding the wave of renewed optimism surrounding Chinese stocks. This bullish sentiment has been primarily fueled by expectations of policy support from the Chinese government.

On September 24th, China announced a surprise stimulus package aimed at stabilizing the stock and housing markets. This move marked a turning point, prompting global investment firms and fund managers to view Chinese stocks as "attractive" and "compelling" investment opportunities.

Major firms such as BlackRock, Morgan Stanley, and Goldman Sachs have expressed optimism about the potential for further policy measures and increased fund inflows into Chinese equities. However, some uncertainty remains due to the lack of details regarding the specifics of the stimulus package and potential structural reforms. Market participants are eagerly awaiting more concrete plans from the standing committee meeting of the National People's Congress, expected in late October or early November.

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