US Stock Market Move | Most popular Chinese concept stocks fell, with Xpeng Group (XPEV.US) dropping nearly 5%.

On Thursday, most popular Chinese concept stocks fell, with the Nasdaq China Golden Dragon Index falling by 1%. Alibaba Group Holding Limited Sponsored ADR (BABA.US) and Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) both dropped by about 2%, while Li Auto, Inc. Sponsored ADR Class A (LI.US) fell by over 1% and Xiaopeng Motors (XPEV.US) dropped by nearly 5%. In terms of news, after an early morning rise, the three major indexes in Hong Kong fell back, with the Hang Seng Index turning downward in the afternoon. At the close, the Hang Seng Tech Index fell by 0.4%, closing at 4454.28 points.