US Stock Market Move | Chinese concept stocks continue to climb, Noah Holdings Ltd. Sponsored ADR Class A (NOAH.US) rises more than 10%.

Noah Holdings Ltd. Sponsored ADR Class A (NOAH.US) closed up 10.32% on Thursday, at $11.22. On the news front, boosted by China's economic stimulus policies, Chinese assets continued their overnight rally on the "Super Thursday", with the Nasdaq China Golden Dragon Index up 10.9%. It is reported that on September 26, the Political Bureau of the CPC Central Committee held a meeting to vigorously guide long-term funds into the market, remove barriers for social security, insurance, wealth management, and other funds entering the market, and make efforts to boost the capital market. On the same day, the Central Financial Office and the China Securities Regulatory Commission jointly issued the "Guiding Opinions on Promoting the Entry of Long-Term Funds into the Market," focusing on continuously optimizing the capital market ecosystem, vigorously developing equity funds, and improving various policies and systems to facilitate the entry of long-term funds into the market. According to the Q2 2024 financial report, Noah Holdings Ltd. Sponsored ADR Class A recorded a total revenue of 620 million RMB, with wealth management contributing 420 million RMB and asset management contributing 190 million RMB.