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Popular Chinese concept stocks generally fell, with the NASDAQ Golden Dragon China Index closing down 1.21%
The Block
1h ago
Ai Focus
Popular Chinese concept stocks generally fell, with the NASDAQ Golden Dragon China Index closing down 1.21%. Most Chinese concept stocks such as Futu Holdings, NIO, iQiyi, and Alibaba declined, while Li Auto managed to rise 1.22% against the trend. The article also mentioned that in September, PPI in the US rose 1.3% month-on-month, and traders still expect another interest rate hike in December.
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Hot Chinese concept stocks generally fell, with the NASDAQ Golden Dragon China Index closing down 1.21%.

FTSE China A50 Index constituents declined: Futu Holdings fell 5.44%, NIO dropped 3.81%, iQiyi lost 3.18%, Alibaba decreased by 2.54%, Baidu fell 1.63%, Pinduoduo dropped 1.37%, NetEase lost 1.25%, Zhihu fell 1.12%, Weibo declined 1.09%, Tiger Securities dropped 1.01%, Xpeng Motors fell 0.88%, New Oriental fell 0.84%, Tencent Holdings fell 0.75%, Bilibili fell 0.49%, JD.com fell 0.25%. Li Auto, however, rose 1.22% against the trend.

The resilience of Chinese concept stocks in this round is fundamentally supported by clear, continuous, and stable expectations regarding China's technology policies.

The U.S. Bureau of Labor Statistics announced that in September, PPI rose by 1.3% month-on-month.

Intraday turmoil has highlighted two major concerns on Wall Street: first, interest rates being "higher and for a longer period," and second, the economy's excessive reliance on a single industry.

Despite the modest performance of the PCE data, traders still expect another interest rate hike in December.

The review status of Yangtze Memory Holdings Co., Ltd. on the Sci-Tech Innovation Board IPO has changed to "Inquiry Received".

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