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On October 15, during the U.S. pre-market trading session, the performance of well-known Chinese concept stocks was a mixed bag. Alibaba, Baidu, Pinduoduo, and Bilibili each witnessed a decline of more than 1%, while NIO experienced a 0.54% drop. In contrast, NetEase surged by over 1%, XPeng Group saw a 0.74% increase, Li Auto climbed 0.36%, and JD.com rose by 0.22%. The preceding day, all three major U.S. stock indices closed in negative territory, with the Nasdaq dropping 1.88%, the S&P 500 falling 1.11%, and the Dow Jones Industrial Average slipping 0.09%. Technology stocks, in general, faced a downturn, particularly in the memory and semiconductor sectors. The Philadelphia Semiconductor Index plummeted by 4.3%, and the chip stock index marked its sixth straight day of decline, marking the longest losing streak since May 2025.
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