US Stock Market Move | Popular Chinese concept stocks continue to rise, JD.com, Inc. Sponsored ADR Class A (JD.US) up more than 7%

On Wednesday, the Nasdaq Golden Dragon China Index rose by 1.6%, with popular Chinese concept stocks continuing to rise. PDD Holdings Inc. Sponsored ADR Class A (PDD.US) saw an increase of nearly 8%, JD.com, Inc. Sponsored ADR Class A (JD.US) rose by over 7%, GDS Holdings Ltd. Sponsored ADR Class A (GDS.US) rose by over 4%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose by over 3%, NIO Inc. Sponsored ADR Class A (NIO.US), and Baidu Inc Sponsored ADR Class A (BIDU.US) both rose by over 2%. On the news front, on the morning of March 25th, the Economic Daily published a commentary article titled "The Takeout War Should End." The article mentioned that healthy competition should be a benign competition of technological innovation, efficiency improvement, and service optimization, rather than a money-burning game relying on capital accumulation, or a zero-sum game of controlling traffic and forcing alliances through monopoly. Price wars can't go far; internal competition leads to no winners. The takeout war should end. After the article was published, the market interpreted it as a clear signal to stop the large-scale subsidies in the takeout war. In addition, on March 24th, Liu Jinjin, Chief China Stock Strategy Analyst at Goldman Sachs Group, Inc., stated that with the improvement in global investor sentiment, international attention and willingness to allocate to the Chinese stock market have significantly increased. The level of interest may have reached near highs in recent years. The latest customer survey results show that only about 10% of investors surveyed believe that the Chinese stock market is "uninvestable", a significant decrease from about 40% two years ago, reflecting a positive shift in overall foreign investors' views on Chinese assets.