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The Nasdaq Golden Dragon China Index initially closed down over 2%.
Popular Chinese concept stocks Bilibili, Pinduoduo, Baidu, ZEEKR, NetEase, New Oriental, Alibaba, and Nio fell over 2%, while XPeng rose 0.5% and Fangdd Network rose 2.7%.
Among Chinese concept ETFs, YINN fell 4.7%, KWEB, CQQQ, and DRAG fell over 2%, while YANG rose 4.8%