US Stock Market Move | Popular Chinese concept stocks collectively strengthened Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) rose more than 11%

On Wednesday, the Nasdaq China Golden Dragon Index opened up more than 4%, with popular Chinese concept stocks collectively strengthening. Futu Holdings Ltd. Sponsored ADR Class A (FUTU.US) surged more than 11%, KINGOFT CLOUD (KC.US) rose more than 9%, GDS Holdings Ltd. Sponsored ADR Class A (GDS.US) increased by over 7%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) rose more than 5%, and PDD Holdings Inc. Sponsored ADR Class A (PDD.US) increased by over 4%. In addition, the Shanghai Composite Index rose by 2.70% intraday, and the Hang Seng Index rose by 3.09%. On the news front, President Trump previously stated that he agreed to suspend attacks on Iran for two weeks, on the condition that the Strait of Hormuz immediately reopens. He pointed out that progress has been made on the ten-point plan proposed by Tehran. A senior U.S. official stated that the U.S. has ceased all offensive operations in Iran. Analysts have said that some of the world's largest investment firms are buying bonds and artificial intelligence stocks while selling the U.S. dollar, betting that the peak of uncertainty caused by the war has passed. These actions indicate that with falling oil prices and the market betting again on the Federal Reserve focusing on interest rate cuts, people are starting to believe that the worst of the selling caused by the Iran war may be over.