Shares of iQiyi Inc. (IQ) are soaring 5.03% in Monday's pre-market trading, riding the wave of optimism surrounding Chinese ADRs ahead of crucial US-China trade talks scheduled in London. This surge aligns with a broader trend of Chinese stocks gaining ground in anticipation of potential progress in trade relations between the two economic giants.

The upcoming discussions, set to focus on critical minerals, have sparked renewed interest in Chinese companies listed on US exchanges. While iQiyi wasn't specifically mentioned, other notable Chinese ADRs like Kingsoft Cloud, Li Auto, JD.com, and Alibaba have also seen significant pre-market gains, ranging from 1.4% to 8%.

Investors are closely watching these talks, which follow a rare call between former President Trump and Chinese President Xi Jinping last week. The meeting in London, involving top trade representatives from both nations, could potentially ease tensions and boost market sentiment. However, analysts caution that while optimism is high, significant breakthroughs may not be fully priced in by the market yet.