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10-22

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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

Stock Track | YINN Plunges 6.4% as Modest Chinese Rate Cuts Fail to Meet Market Expectations

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Chunai Jean, a senior strategist at Daiwa Asset Management, commented, \"It is not a big positive surprise, but rather within the expected range — we believe that the market's sense of relief will spread and provide support for stock prices.\" However, the market reacted negatively, with YINN and other Chinese ADRs and stocks declining sharply.</p>","source":"ai_movement_en","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | YINN Plunges 6.4% as Modest Chinese Rate Cuts Fail to Meet Market Expectations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | YINN Plunges 6.4% as Modest Chinese Rate Cuts Fail to Meet Market Expectations\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-10-22 07:54</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The Direxion Daily FTSE China Bull 3X Shares (YINN), an exchange-traded fund (ETF) providing leveraged exposure to Chinese equities, plummeted by around 6.4% on Friday, October 21, as Chinese stocks and American Depositary Receipts (ADRs) retreated following modest rate cuts by Chinese banks.</p>\n\n<p>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 cuts, aimed at supporting economic growth and stabilizing the housing market, were largely within market expectations and were not seen as a significant positive surprise.</p>\n\n<p>The modest rate cuts failed to meet market expectations, leading to a sell-off in Chinese stocks and related ETFs like YINN. Chunai Jean, a senior strategist at Daiwa Asset Management, commented, \"It is not a big positive surprise, but rather within the expected range — we believe that the market's sense of relief will spread and provide support for stock prices.\" However, the market reacted negatively, with YINN and other Chinese ADRs and stocks declining sharply.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"YINN":"三倍做多富时中国ETF-Direxion"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121685679","content_text":"The Direxion Daily FTSE China Bull 3X Shares (YINN), an exchange-traded fund (ETF) providing leveraged exposure to Chinese equities, plummeted by around 6.4% on Friday, October 21, as Chinese stocks and American Depositary Receipts (ADRs) retreated following modest rate cuts by Chinese banks.\nChinese 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%. 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Chunai Jean, a senior strategist at Daiwa Asset Management, commented, \"It is not a big positive surprise, but rather within the expected range — we believe that the market's sense of relief will spread and provide support for stock prices.\" However, the market reacted negatively, with YINN and other Chinese ADRs and stocks declining sharply.","news_type":1},"isVote":1,"tweetType":1,"viewCount":2,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":30,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}