The Direxion Daily FTSE China Bear 3x Shares (YANG) surged 8.34% to close at $83.13 on January 10, 2025, as Chinese equities faced significant pressure following the People's Bank of China's (PBOC) unexpected decision to halt its government bond buying program. This move, aimed at cooling excess demand, led to higher yields and a decline in Chinese equities, with the Shanghai Composite dropping 1.33% to 3,169 and the Shenzhen Component falling 1.8% to 9,796. The PBOC's actions have intensified concerns over weak economic growth and deflationary pressures, eroding investor confidence. Additionally, the U.S. jobs report, which exceeded expectations, contributed to a global risk-off sentiment, further impacting Chinese stocks. The strengthening U.S. dollar, which has seen significant inflows into bullish funds, is also weighing on the competitiveness of Chinese exports.