Nasdaq Golden Dragon China Index closed down 2.6% in preliminary trading

Among popular Chinese concept stocks, Pony.ai initially closed down 15%, Noah Holdings fell 13.3%, GDS Holdings and XPeng dropped 6.6%, Baidu fell 5%, NIO declined 4.1%, Alibaba slid 3.5%, BYD dropped 3.1%, Yum China, Meituan, Li Auto, and NetEase all fell by more than 2.6%. Atour rose 0.1%, Boss Zhipin gained 1.4%, Huazhu climbed 1.7%, and WeRide advanced 1.7%.