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The Nasdaq Golden Dragon China Index initially rose by 0.7%. Among popular Chinese concept stocks, Nio initially rose by 9.4%, XPeng rose by 5%, Li Auto rose by 2.5%, Pony.ai and WeRide rose by about 1.7%. Alibaba, JD.com, Yum China, and New Oriental fell by up to about 1.5%, Pinduoduo fell by 3.4%, and Fangduoduo dropped by approximately 17%
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