China ADRs rise after US, China agree to temporary tariff cuts

U.S.-listed shares of Chinese companies rise after U.S. and China agree to temporarily slash tariffs

The world's two biggest economies said there would be a 90-day pause on measures; Chinese tariffs on U.S. would come down to 10% while U.S. will impose 30% tariffs on China

E-commerce firm Alibaba Group Holding BABA.N jumps 6.7%, JD.com Inc JD.O rises 5.9% and PDD Holdings PDD.O rises 6.8%

Gaming company Bilibili Inc BILI.O surges 6.6%, while search engine giant Baidu Inc BIDU.O adds 4.2%

EV firms Li Auto Inc LI.O, Nio Inc NIO.N and Xpeng Inc XPEV.N gain between 5.6% and 7.8%

Music streaming co Tencent Music Entertainment Group TME.N and online video platform IQIYI Inc IQ.O rise 3.8% and 5.3%, respectively, while social media co Weibo Corp WB.O and live streaming platform Huya Inc HUYA.N climb 3.3% and 4.4%, respectively

Online education firms Gaotu Techedu Inc GOTU.N, TAL Education Group TAL.N and New Oriental Education & Technology Group Inc EDU.N up 2.5%-5.4%

Online brokerages Futu Holdings Ltd FUTU.O and UP Fintech Holding Ltd TIGR.O gain 7.6% and 8.2%, respectively

China ETFs such as IShares MSCI China ETF MCHI.O, China Large-Cap ETF FXI.N and KraneShares CSI China Internet ETF KWEB.K gain 3.3%-5.2%, while Direxion China CSI Daily Bull 2X CWEB.K advances 10.5%