The Nasdaq Golden Dragon China Index preliminarily closed down 1%, with a cumulative decline of about 2.6% this week. Among popular Chinese concept stocks, WeRide fell over 7%, XPeng fell about 6%, PONY-W fell 5.3%, and Nio fell about 4%; H World rose 2%, Vipshop rose 2.3%, Canadian Solar rose 6.2%, and Daqo New Energy rose 9.7%. In ETFs, CQQQ and KWEB fell by up to 1.8%

Sunwah Kingsway Capital Disposes 131,000 WeRide ADSS On Nasdaq For $1.4 Million From 22 May To Nov 7

Sunwah Kingsway Capital Holdings Ltd :FROM 22 MAY TO NOV 7, DISPOSES 131,000 WERIDE ADSS ON NASDAQ FOR $1.4 MILLIONDISPOSALS REALIZED GAIN OF ABOUT US$1 MILLION

China's Robotaxi Showdown: Pony AI and WeRide Crash on $1.1 Billion Hong Kong Debut

China's robotaxi firms Pony AI and WeRide debuted in Hong Kong, raising over $1.1 billion but saw their stock prices drop by 15%. The decline reflects investor concerns over tech valuations and market timing. Despite the rocky start, analysts see long-term potential in both companies as they expand into global markets. The rivalry between the two firms intensified during their simultaneous listings, with accusations exchanged between their CEOs. Analysts suggest this could be the beginning of China's rise in the autonomous-driving sector.

Daily Market Outlook - Thursday, Nov. 6

Asian investors' risk sentiment improved as markets rebounded from previous losses, driven by strong U.S. economic data. Concerns over overvalued tech stocks eased, while Hong Kong's Pony Ai and WeRide debuted, raising nearly $1.2 billion. Federal Reserve speeches today may influence interest rate expectations, with a 61% chance of a 25-basis-point cut. The U.S. Supreme Court questioned Trump's tariffs, impacting global trade. The ADP report showed mixed job growth, indicating a stable labor market. The UK MPC meeting suggests a split decision on rates, with potential changes in communication format.