Chinese ADRs mixed in overnight trading. YINN rose 3%; Tencent Music rose 6%; Li Auto and KE Holdings rose 3%; XPeng and Baidu rose 2%; PDD Holdings rose 1%; NIO rose 0.7%; Alibaba rose 0.3%; while Trip.com fell 1%; JD.com fell 2%.

Tencent Music Entertainment surpassed first-quarter revenue expectations on Tuesday on the back of strong subscriber growth in its online music services, particularly in its long-form audio content. The shares gained 2.5% on Tuesday.

Chinese e-commerce retailer JD.com topped market estimates for quarterly revenue on Tuesday, in a sign of steady demand even as U.S. tariffs and prolonged economic weakness weighed on consumer sentiment. The shares gained 3.3% on Tuesday.