The Direxion Daily FTSE China Bull 3X Shares (YINN) saw a significant pre-market surge of 5.4% on Friday, driven by positive sentiment towards Chinese technology stocks.
The rally was fueled by upbeat earnings reports from Chinese tech giants like Alibaba, which reported better-than-expected sales driven by its core e-commerce and cloud businesses. Alibaba's ADRs jumped 8.1% on Thursday, contributing to the overall positive sentiment.
Additionally, the breakthrough from local AI startup DeepSeek has prompted investors to re-evaluate the potential of China's leading internet companies, further boosting the rally in Chinese tech shares.
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