The Direxion Daily FTSE China Bull 3X Shares ETF (YINN) plummeted 7.20% in pre-market trading on Thursday, extending its overnight losses amid a broad sell-off in Chinese stocks and related exchange-traded funds.
According to overnight trading data, Chinese American Depositary Receipts (ADRs) and ETFs tracking Chinese equities continued their decline, with YINN sinking more than 8%. Other notable decliners included KE Holdings falling nearly 4%, Bilibili dropping over 3%, and Trip.com down more than 3%.
The pre-market plunge in YINN reflects the heightened investor concerns surrounding Chinese assets, as the ongoing sell-off in the country's stock market shows no signs of abating. Traders and investors appear to be increasingly wary of exposure to Chinese equities amid a multitude of headwinds, including economic slowdown, regulatory crackdowns, and geopolitical tensions.
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