Chinese ADRs jumped in morning trading. Direxion Daily FTSE China Bull 3X Shares rose 6%; VNET Group rose 29%; Kingsoft Cloud rose 19%; JD.com rose 8%; Baidu, Alibaba, and NIO rose 7%; Bilibili and PDD Holdings rose 5%; Li Auto rose 4%; iQiyi and NetEase rose 3%; XPeng and Trip.com rose 2%.