Chinese Stocks Surge as Nasdaq Golden Dragon Index Rises 2.73%, US Markets Reach New All-Time High

Chinese stocks rallied on Friday with the Nasdaq Golden Dragon Index rising 2.73%. Top gainers included Alibaba (up 4.10%), JD.com (up 2.25%), and NIO (up 14.44%). The Dow Jones Industrial Average also reached a new all-time high, rising 1.89% or 846.24 points. Federal Reserve Chairman Jerome Powell hinted at possible future interest rate cuts. Notable decliners included Chunghwa Telecom (down 1.76%) and BOSS Zhipin (down 2.97%).