Chinese ADRs and ETFs Rebound. YINN up 11%; CWEB up 8%; CHAU up 6%; Alibaba, NIO up over 5%; Bilibili up 4%; Baidu, XPeng up Around 3%

Chinese ADRs and ETFs rebounded in premarket trading. YINN up 11%; CWEB up 8%; CHAU up 6%; Alibaba, NIO up over 5%; Bilibili up 4%; Baidu, Bilibili up around 3%.

A selloff in Chinese stocks following renewed Sino-American trade tensions will be an opportunity to buy the dip, market watchers say.

The NASDAQ Golden Dragon China Index plunged more than 6% on Friday, the most since April, and US stocks also slid after President Donald Trump warned he would impose a “massive” increase of tariffs on Chinese goods. He later said he would put an additional 100% tariff on China from Nov. 1, as well as place export controls on critical software.

However, sentiment improved as Trump later signaled an openness to a deal with China, triggering an advance in US equity futures early in Asia on Monday.