Stock Track | China's Sweeping Stimulus Package Ignites Rally in YINN ETF, Surging 25.75% Pre-Market

Stock Track

Sep 27, 2024

The Direxion Daily FTSE China Bull 3X Shares (YINN) ETF experienced a remarkable pre-market surge of 25.75% on Wednesday, driven by China's announcement of a comprehensive economic stimulus package aimed at reviving its slowing economy.

In an unprecedented move, President Xi Jinping led a special meeting of China's top leadership, the 24-member Politburo, to discuss the nation's economic situation. The Politburo vowed to complete the country's annual economic goals and pledged to ensure sufficient fiscal spending, stabilize the real estate market, and forcefully implement recent interest rate cuts and bank reserve ratio reductions announced by the People's Bank of China.

These bold stimulus efforts mark China's most daring policy package in decades, aimed at boosting growth and reviving investor confidence in the world's second-largest economy. The news sparked a rally in Chinese stocks and ETFs, with the YINN ETF, which tracks the performance of Chinese equities, surging 25.75% in pre-market trading on Wednesday.

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