US Stock Market Move | Chinese concept stocks rise, KE Holdings, Inc. Sponsored ADR Class A (BEKE.US) up more than 7%

On Monday, Chinese concept stocks rose. As of the time of writing, KE Holdings, Inc. Sponsored ADR Class A(BEKE.US) rose by over 7%, Tencent Music Entertainment Group Sponsored ADR Class A(TME.US) rose by over 5%, HUYA, Inc. Sponsored ADR Class A(HUYA.US) rose by over 4.6%, Li Auto, Inc. Sponsored ADR Class A(LI.US) rose by over 4%, Baidu Inc Sponsored ADR Class A(BIDU.US) rose by nearly 4%, NIO Inc. Sponsored ADR Class A(NIO.US) rose by over 3.8%, XPeng, Inc. ADR Sponsored Class A(XPEV.US) rose by over 1.9%. In terms of news, after more than a year since entering the real estate development field, KE Holdings, Inc. Sponsored ADR Class A announced that it has won its first independent project. On September 20th, in Chengdu, the Jinjiang Financial City Phase III H12 plot was launched, with a land area of 15,800 square meters and a starting floor price of 19,200 yuan per square meter. After 82 rounds of bidding with over a dozen real estate developers such as Jinmao, China Merchants, and Greentown, the plot was finally won by BEKE Holdings, Inc. Sponsored ADR Class A's subsidiary, Beihaojia (Chengdu) Property Co., Ltd., for a price of 1.076 billion yuan, with a transaction floor price of 27,300 yuan per square meter, representing a premium rate of 42.19%.