US Stock Market Move | Most popular Chinese concept stocks are mostly up, Kingsoft Cloud (KC.US) rose nearly 10%

On Friday, the Nasdaq China Golden Dragon Index rose more than 2%, with many popular Chinese concept stocks on the rise. Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) increased by over 10%, KINGSOFT CLOUD (KC.US) rose by nearly 10%, JD.com, Inc. Sponsored ADR Class A (JD.US) rose by over 5%, and Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose by over 4%. On the news front, the market regulatory authority called for a meeting with platform companies such as Ele.me, urging them to further regulate promotional activities, participate in competition rationally, and promote a harmonious ecosystem for consumers, merchants, delivery riders, and platform companies to win together. In addition, several foreign institutions recently stated that with the continued stable and positive development of the Chinese economy, the continuous release of policy dividends, and the improvement in corporate profit prospects, Chinese assets continue to be favored. It is hoped that more policy measures will be introduced to enhance the convenience of various foreign capital participation in the Chinese capital market.