China ADRs &ETFs jumped in overnight trading with YINN rising 7%; XPeng up 5.8%; Alibaba, NIO up more than 4%; JD.com, Li Auto, CHAU rose around 3%; PDD Holdings up 2%.

China said it is assessing the possibility of trade talks with the US, the first sign since Donald Trump hiked tariffs last month that negotiations could begin between the two sides.

China’s Commerce Ministry said in a Friday statement that it had noted senior US officials repeatedly expressing their willingness to talk to Beijing about tariffs, and urged officials in Washington to show “sincerity” towards China.

“The US has recently sent messages to China through relevant parties, hoping to start talks with China,” the ministry added. “China is currently evaluating this.”