Direxion Daily CSI 300 China A Shares Bull 2X Shares (NYSE: CHAU) was trading higher on Wednesday but pulled back to near flat after the Federal Reserve applied a 0.5% interest rate hike.
The reaction was in tandem with the S&P 500, which was attempting to bounce but suffered a bearish reaction to the 2 p.m. news from the Fed.
China-based stocks have rebounded significantly since Oct. 31, with CHAU surging up over 42%. The Hang Seng Index has soared about 34% since that date, most recently propelled by Xi Jinping’s decision to halt the CCP’s "zero-COVID" policy, which caused economic woes for the Asian country.
CHAU is a double-leveraged fund designed to outperform the CSI 300 Index by 200%. The ETF tracks several China-based ETFs, with Xtrackers Hvst CSI 300 China A-Shs (NYSE: ASHR) ...
Related tickers: ASHR, CHAU, CHAD.
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