The China Concept Index gave back more than 1% of its gains and turned to a decline of 1%, with New Oriental dropping over 20%
The Nasdaq Golden Dragon China Index's decline widened to 1%, while U.S. stocks initially rose over 1.1%. Popular Chinese concept stocks saw New Oriental drop 24%, Nio down 3.2%, Bilibili down 2.6%, Pinduoduo down over 1%, Li Auto up 3.7%, and XPeng up 4.6%