Stock Track | Direxion Daily FTSE China Bull 3X Shares (YINN) Skyrockets 16.93% in Pre-Market on China's Monetary Policy Shift

Stock Track12-09

The Direxion Daily FTSE China Bull 3X Shares (YINN) experienced a massive pre-market surge, rising 16.93% on Monday. This significant rally was driven by China's shift in monetary policy, as announced by the Communist Party's Politburo.

China's top policymakers revealed that they will embrace a "moderately loose" monetary strategy next year, marking the first major shift since 2011. This indicates a more accommodative stance, with greater easing measures likely to be implemented to stimulate the economy.

Additionally, authorities stated that they will implement a "more proactive" fiscal policy, suggesting increased government spending and borrowing to support growth. These policy changes were welcomed by investors, leading to a broad rally in China ETFs and ADRs overnight.

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