On Tuesday, major Chinese stocks experienced significant declines, leading to a 6.85% drop in the Nasdaq Golden Dragon China Index (HXC). Among those showing gains, Taiwan Semiconductor Manufacturing (TSM) rose by 0.86%, WSP Global (WSP) increased by 1.08%, and RLX Technology (RLX) edged up by 0.53%.
Notable decliners included Alibaba (BABA, Financial) which plunged by 6.66%, Pinduoduo (PDD) down by 5.38%, JD.com (JD) falling 7.52%, and NetEase (NTES) which decreased by 5.14%. Travel service company Trip.com (TCOM) suffered a sharp decline of 10.05%, while Baidu (BIDU) and Li Auto (LI) saw losses of 7.39% and 8.10% respectively. Real estate platform KE Holdings (BEKE) dropped 8.27%, and NIO (NIO) declined by 8.03%.
Among other stocks, New Oriental Education & Technology (EDU) fell by 4.76%, Huazhu Group (HTHT) by 2.41%, and XPeng (XPEV) by 7.34%. Bilibili (BILI) experienced a significant drop of 12.93%, while Weibo (WB) tumbled by 12.38%. Lufax Holding (LU) recorded a steep downturn of 14.36%.
In the broader U.S. market, stocks closed higher with technology shares leading the rally. The Dow Jones Industrial Average rose by 126.13 points, or 0.30%, to 42,080.37. The Nasdaq Composite increased by 259.01 points, or 1.45%, to 18,182.92. Similarly, the S&P 500 gained 55.19 points, marking a 0.97% rise to close at 5,751.13. Investors are focusing on the upcoming Federal Reserve meeting minutes, the September Consumer Price Index (CPI) inflation data, and the onset of earnings season.
