U.S. Stock Movement | Expectations of Trade War Easing Drive Nasdaq Golden Dragon China Index Up 5%
On Wednesday, the Nasdaq Golden Dragon China Index surged 5%, with popular Chinese concept stocks performing strongly. Kingsoft Cloud rose nearly 13%, XPeng increased over 8%, PDD and Alibaba both rose over 5%, and Baidu gained over 3%. In terms of news, U.S. Treasury Secretary Janet Yellen stated that the current situation of the U.S. imposing a 145% tariff on Chinese goods and China imposing a 125% tariff on U.S. goods is unsustainable, and that a downgrade will occur "in the near future," allowing the market to "breathe a sigh of relief." Additionally, U.S. President Trump indicated that tariffs on China will "significantly" decrease from the current level of 145%, and the tariffs will not drop to zero, with China being very satisfied with the final tariff rate
According to Zhitong Finance APP, on Wednesday, the Nasdaq Golden Dragon China Index surged by 5%, with popular Chinese concept stocks performing strongly. Kingsoft Cloud (KC.US) rose nearly 13%, XPeng (XPEV.US) increased by over 8%, PDD (PDD.US) and Alibaba (BABA.US) both rose by over 4%, and Baidu (BIDU.US) increased by over 3%. In terms of news, U.S. Treasury Secretary Janet Yellen stated that the current 145% tariffs on Chinese goods and 125% tariffs on U.S. goods are unsustainable, and that a downgrade will occur in the "near future," allowing the market to "breathe a sigh of relief." Additionally, U.S. President Trump mentioned that tariffs on China will "significantly" decrease from the current level of 145%, and the tariffs will not drop to zero, with China being very satisfied with the final tariff rate
