The NASDAQ Golden Dragon China Index initially closed down 1.8%. Popular Chinese stocks generally declined, with NetEase falling 6.6%, Tencent dropping 6%, XPeng and Bilibili each down more than 3%, and Alibaba declining 1.4%. A few individual stocks, such as H World and Daqo New Energy, rose more than 1%. Among related ETFs, KWEB fell 2.2% and CQQQ dropped 1.7%
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