Chinese ETFs and ADRs fell in overnight trading. YINN fell 6%; XPeng, JD.com fell 4%; Alibaba fell 3%; PDD, Nio fell 2%; Li Auto fell 1%.

China stood pat on a key interest rate for a fifth month, offsetting a reassuring tone by the Federal Reserve on the impact of tariffs by the Trump administration and the outlook for monetary policies.

Meanwhile, Trump is drafting an executive order that would rely on funding from a U.S. Trade Representative proposal to levy fines of up to $1.5 million on China-made ships or vessels from fleets that include ships made in China, Reuters reported.