US Stock Market Move | Popular Chinese concept stocks saw their gains increase, with NIO Inc. Sponsored ADR Class A (NIO.US) rising by over 10%.

On Wednesday, popular Chinese concept stocks saw their gains expand, with NIO Inc. Sponsored ADR Class A (NIO.US) surging over 10%, Bawang Tea Princess (CHA.US) rising over 5%, MNSO (MNSO.US), KINGSOFT CLOUD (KC.US) rising over 4%, and Alibaba Group Holding Limited Sponsored ADR (BABA.US) up over 3%. In addition, the Hong Kong and A-share markets continued their rebound during the day, with the Hang Seng Index rising by 0.6% and the Shanghai Composite Index rising by 0.42%. On the news front, expectations for reserve requirement ratio cuts have once again heated up. An article on the front page of the China Securities Journal stated that when necessary, the People's Bank of China might further take measures such as reducing the reserve ratio to release more long-term liquidity to ensure reasonable and adequate liquidity levels for the mid-year and even the second half of the year. Soochow believes that the US dollar cycle is key to the "eastward rise and westward fall" trading. Judging that the US dollar will continue to decline in June and may even break previous lows, the weak dollar-driven liquidity overflow will drive A-shares to initiate a new round of "eastward rise and westward fall" trading.