Stock Track | YINN Plunges 6.4% as Modest Chinese Rate Cuts Fail to Meet Market Expectations
The Direxion Daily FTSE China Bull 3X Shares , an exchange-traded fund providing leveraged exposure to Chinese equities, plummeted by around 6.4% on Friday, October 21, as Chinese stocks and American Depositary Receipts retreated following modest rate cuts by Chinese banks.Chinese banks lowered their benchmark lending rates after the central bank eased policy in September, with the one-year loan prime rate cut to 3.10% from 3.35%, and the five-year LPR reduced to 3.60% from 3.85%. These rate c
