The Nasdaq Golden Dragon China Index closed up 0.71% at 7484.90 points, marking the second consecutive trading day of a pullback after reaching a high, and it has outperformed the three major U.S. stock indices for two days in a row.

Among popular Chinese concept stocks, Daqo New Energy rose 10.72%, UP Fintech increased by 8.44%, Kanzhun was up 4.77%, Manbang rose 3.08%, NIO increased by 2.64%, Canadian Solar, Qihoo 360, JD.com, and New Oriental rose by up to 2.15%, Alibaba rose 1.62%, Tencent Music increased by 1.25%, while Miniso fell 1.03%, and Trip.com and Zai Lab both dropped at least 1.5%.

In ETFs, the Direxion FTSE China Bull 3X ETF (YINN) rose 2.87%, the China Technology Index ETF (CQQQ) increased by 1.89%, the Chinese Internet Index ETF (KWEB) rose 1.83%, and the "China Dragon" Roundhill China Dragons ETF (DRAG) increased by 1.22%