Hot Chinese concept stocks surged on Wednesday, with Alibaba rising more than 3%.

Popular Chinese concept stocks soared on Wednesday, with the Nasdaq Golden Dragon China Index rising over 2%. Alibaba and Baidu rose over 3%, NetEase rose over 2%, JD.com rose over 1%, Ctrip rose over 4%, Bilibili rose over 6%, and Li Auto and Nio rose over 3%.