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The Nasdaq Golden Dragon China Index initially closed down 0.8%. Among popular Chinese concept stocks, Alibaba initially closed down 3.3%, Xiaomi fell 2.9%, Baidu fell 2.1%, Li Auto fell 2%, Nio fell 1.8%, New Oriental closed down 0.8%, Tencent fell 0.1%, Yum China rose 1.6%, WeRide rose 2.6%, Pinduoduo rose 3.3%, and Pony.ai rose 5.5%
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