On Monday, the Nasdaq Golden Dragon China Index surged 1.87%, with popular Chinese stocks collectively rising. Pony AI Inc (PONY.US) gained over 7%, while WeRide (WRD.US) climbed more than 6%. Baidu (BIDU.US) and XPeng (XPEV.US) both rose over 5%, and Alibaba (BABA.US) advanced more than 2%.
Meanwhile, the Shanghai Composite Index rose 1.18%, nearing the 4,000-point mark and hitting a fresh 10-year high. The Hang Seng Index also increased by 1.05%. The rally followed reports that China and the U.S. reached a basic consensus in trade talks, with the U.S. Treasury Secretary stating that a 100% tariff hike on Chinese goods is no longer under consideration.