On Wednesday, the majority of prominent US-listed Chinese stocks experienced gains, with the Nasdaq Golden Dragon China Index climbing close to 2%.

PDD Holdings Inc (PDD.US) surged, gaining nearly 6%, while GDS Holdings Ltd (GDS.US) rose over 7%.

XPeng Inc. (XPEV.US) increased more than 4%, and Baidu (BIDU.US) advanced over 3%.

Alibaba (BABA.US) and Li Auto (LI.US) both gained close to 3%, with JD.com (JD.US) rising more than 2%.

The market activity occurred against a backdrop where the Federal Reserve Chair, speaking at a monetary policy panel with other major central bank heads at the ECB's Global Central Banking Forum in Sintra, Portugal, declined to signal any specific policy actions for the upcoming Fed meeting later this month.

Regarding inflation, the Chair noted an improved outlook since the central bank's rate-setting committee met weeks ago while reiterating a commitment to bringing inflation down.