US Stock Market Move | The People's Bank of China announced multiple expansionary monetary policies, and Chinese concept stocks collectively rose.

On Tuesday, popular Chinese concept stocks collectively rose, as of the time of writing, Bilibili, Inc. Sponsored ADR Class Z (BILI.US) rose by over 11%, Li Auto, Inc. Sponsored ADR Class A (LI.US) and JD.com, Inc. Sponsored ADR Class A (JD.US) rose by over 8%, PDD Holdings Inc. Sponsored ADR Class A (PDD.US) and Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose by over 6%, and Baidu Inc Sponsored ADR Class A (BIDU.US) rose by over 4%. On the news front, People's Bank of China Governor Pan Gongsheng announced multiple incremental monetary policies at a State Council Information Office press conference, including: lowering required reserve ratios and policy rates, driving market benchmark rates down; lowering existing housing loan rates and unifying the minimum down payment ratio for housing loans; introducing new monetary policy tools to support stable development of the stock market.