US Stock Market Move | Hot Chinese concept stocks are performing strongly, with Gaotu Techedu, Inc. Sponsored ADR Class A(GOTU.US) rising more than 25%.

On Wednesday, popular Chinese concept stocks performed strongly, with Gaotu Techedu, Inc. Sponsored ADR Class A (GOTU.US) rising over 25%, KE Holdings, Inc. Sponsored ADR Class A (BEKE.US) rising over 9%, Li Auto, Inc. Sponsored ADR Class A (LI.US) rising over 8%, PDD Holdings Inc. Sponsored ADR Class A (PDD.US) rising over 4%, and Alibaba Group Holding Limited Sponsored ADR (BABA.US) rising over 3%. On the news front, several overseas institutional strategists have stated that China's artificial intelligence capital expenditure is still in an expansion phase, and they remain optimistic about the prospects of Chinese technology stocks. In their view, the pullback in Chinese tech stocks this week may actually provide a good buying opportunity.