Direxion Daily FTSE China Bull 3X Shares (YINN), a leveraged ETF tracking Chinese stocks, surged 6.76% in pre-market trading on Thursday. This significant jump comes as part of a broader rally in Chinese ADRs (American Depositary Receipts) and ETFs, signaling renewed investor confidence in Chinese equities.

The rally extends beyond YINN, with other China-focused ETFs and stocks showing substantial gains. Notably, CWEB (Direxion Daily CSI China Internet Index Bull 2X Shares) led the pack with a 7% increase. Other major Chinese tech companies also saw significant pre-market gains, with XPeng and JD.com both up 5%, while Baidu, iQiyi, and Alibaba each rose by 3%. The KraneShares CSI China Internet ETF (KWEB) also joined the upward trend with a 3% increase.

While specific catalysts for this broad-based rally in Chinese stocks were not immediately clear from the available information, the coordinated upward movement suggests a potential shift in investor sentiment towards Chinese equities. Traders and investors will be closely watching these stocks as the regular trading session begins to see if this pre-market momentum carries forward.