On January 23rd, the Nasdaq China Golden Dragon Index closed down 0.66%, with most popular Chinese concept stocks falling. Ideal Auto fell nearly 5%, Xiaopeng Motors and Miniso fell over 3%, and iQiyi, TAL Education, New Oriental, NetEase, and Pinduoduo fell over 1%; NIO rose over 2%, while JD.com and Alibaba rose over 1%.
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