The Direxion Daily FTSE China Bull 3X Shares ETF (YINN), a leveraged exchange-traded fund tracking Chinese stocks, soared in pre-market trading on Thursday, September 27, as investors welcomed a sweeping stimulus package unveiled by Chinese authorities to revive the country's slowing economy.

The stimulus measures, announced by the People's Bank of China (PBOC) and China's top leadership, aimed to provide a significant boost to economic growth and consumer confidence. Among the key initiatives were a cut in key interest rates, including the seven-day reverse repurchase rate to 1.5% from 1.7%, and a reduction in the reserve requirement ratio for major banks to 9.5% from 10%. These moves are expected to free up around 1 trillion yuan ($142.6 billion) in long-term liquidity, allowing banks to lend more and support economic activities.

The Politburo, comprising top Communist Party officials, also pledged action to ensure that annual economic targets are met and to stabilize the troubled real estate market. Plans for fiscal spending to boost consumption and rein in local government debt were announced, complementing the monetary stimulus efforts.