US stocks rose for two consecutive days, with Chinese concept stocks outperforming by more than 2%. Xpeng Motors took the lead, while European natural gas surged by 10%.

European and American inflation and employment data were released before the European Central Bank's hawkish voting committee supported a rate hike in September, raising market expectations of a rate hike by the Federal Reserve in November to 51%. The Dow Jones Industrial Average rose more than 200 points on Monday, with chip stocks up more than 1%, NVIDIA up nearly 2% approaching its highest level, and XPeng Motors opening with a 6.7% jump and closing with a 5.6% gain. "Vietnam's Tesla" VinFast rose nearly 20% to a new high. Short-term US Treasury yields hovered at a six-week high, with the auction yield for two-year/five-year US Treasury bonds reaching the highest level in over a decade. The US dollar held steady at 104, its highest level in twelve weeks, while the yen hit a nine-and-a-half-month low and the offshore renminbi briefly fell below 7.30 yuan or 200 points. Crude oil rose above $80, reaching a three-week high for spot gold.