Popular Chinese concept stocks closed mostly lower, with Xiaopeng falling more than 10%.

On Monday, most popular Chinese concept stocks closed lower, with the Nasdaq Golden Dragon China Index falling by 1.21%. Alibaba rose by more than 2%, while Pinduoduo, NetEase, Ctrip, and Baidu fell by more than 1%. Xiaopeng fell by more than 10%, Li Xiang fell by more than 4%, Manbang fell by more than 11%, and New Oriental fell by more than 1%.