Chinese stocks exhibited a broad rally with the Nasdaq Golden Dragon China Index (HXC) climbing 3.78%. Top performers included XPeng (XPEV, Financial) which surged 15.61%, and Futu Holdings (FUTU) which rose 12.42%. Li Auto (LI) increased by 6.20%, while JD.com (JD) saw a gain of 6.62%. Bilibili (BILI) also experienced a notable increase of 8.89%.
Other significant gainers were TSMC (TSM) with a rise of 4.12%, Alibaba (BABA) up 3.53%, and Pinduoduo (PDD) gaining 4.40%. Tencent Music (TME) climbed 1.38%, and Baidu (BIDU) increased by 2.87%. Meanwhile, New Oriental (EDU) rose 2.06% and Ctrip (TCOM) saw an increase of 2.04%.
On the downside, IQIYI (IQ) dropped 1.59% and WSP Holdings saw a slight decline of 0.37%.
Overall, US stocks closed mostly higher with all three major indices hitting new intraday records. The Nasdaq closed above 19,000 points for the first time, and the S&P 500 neared the 6,000-point mark. The Federal Reserve's decision to cut interest rates by 25 basis points met market expectations, and Fed Chair Powell noted the strong performance of the overall economy. Investors are keeping a close watch on the potential impacts of Trump's re-election.
The Dow Jones Industrial Average had a slight decline, closing down 0.59 points at 43,729.34. Meanwhile, the Nasdaq climbed 285.99 points, or 1.51%, to finish at 19,269.46, and the S&P 500 rose 44.06 points, or 0.74%, closing at 5,973.10. During trading, the Dow reached a high of 43,810.29, the Nasdaq rose to 19,301.70, and the S&P 500 hit 5,983.84, all setting new intraday records.
