Prior to the opening of the US stock market on June 2, a majority of the well - known Chinese American Depositary Receipts (ADRs) were on an upward trajectory. Li Auto stood out with a remarkable surge exceeding 7%. Alibaba and XPeng also showed strong performance, rising by more than 5%. JD.com wasn't far behind, with an increase of over 4%. Baidu, Bilibili, and NIO all climbed more than 3%. Pinduoduo and NetEase experienced gains of over 2%. In contrast, Amer Sports faced a minor setback, declining by 2%. This overall upward movement was mainly propelled by a combination of factors. Firstly, the robust performance of the AI and memory sectors in the US stock market played a significant role. Secondly, there was a rebound in Chinese ADRs that had been oversold previously. Thirdly, there were heightened expectations regarding the recovery of the domestic economy. Lastly, a resurgence in market risk appetite also contributed to this positive trend.