The Nasdaq Golden Dragon China Index closed down 5.12% on Monday, as global markets reeled from the fallout of US President Donald Trump’s aggressive new tariff proposals. The move triggered a broad sell off, wiping more than $9.5 trillion off global equity markets over the past three trading days. Chinese tech stocks were among the hardest hit. Alibaba fell over 9%, while XPeng dropped more than 8%. Li Auto and NetEase each slid over 6%, with http://JD.comJD.com> and Bilibili both losing more than 5%. Baidu and iQiyi also recorded losses exceeding 3%. In response, China’s state-owned Central Huijin Investment announced after the close on Monday that it had increased its holdings in exchange-traded funds (ETFs), with plans to continue purchasing in the near term – an apparent attempt to stabilize domestic sentiment. [LatePost, in Chinese; Jiemian, in Chinese]
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