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The NASDAQ Golden Dragon China Index initially closed down 1.1%. Among popular Chinese concept stocks, Kingsoft Cloud fell 4.9%, ZAI LAB and Xiaomi fell 4.1%, while WeRide, Meituan, Vipshop, and GDS had the highest declines of 3.6%. Jinko Solar rose 2.1%, BEKE rose 2.2%, BYD rose 5%, Qifu Technology rose 5.8%, and Douyu rose 7.2%