US Stock Market Move | Popular Chinese concept stocks collectively rise, Xiaoma Zhixing (PONY.US) rises more than 7%.

On Monday, the Nasdaq China Golden Dragon Index surged 1.87%, with popular Chinese concept stocks collectively rising. Pony.ai (PONY.US) rose over 7%, WeRide (WRD.US) rose over 6%, Baidu Inc Sponsored ADR Class A (BIDU.US), XPeng, Inc. ADR Sponsored Class A (XPEV.US) rose over 5%, and Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose over 2%. In addition, the Shanghai Composite Index rose 1.18% intraday, approaching 4000 points, reaching a ten-year high; the Hang Seng Index rose 1.05%. On the news front, China and the US reached a basic consensus on economic and trade negotiations, with the US Treasury Secretary stating that they are no longer considering imposing a 100% tariff on China.