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Last night, Chinese concept stocks surged!
Last night, Chinese assets strengthened.
On Tuesday, February 24, U.S. major stock indexes all closed higher. AMD (Advanced Micro Devices) surged over 8% that day, becoming one of the market highlights. In the news, AMD and Meta announced an expansion of their strategic partnership.
Most Chinese concept stocks rose, with the NASDAQ Golden Dragon China Index up 1.37%.
U.S. Major Stock Indexes All Closed Higher, AMD Surged Over 8%
On Tuesday, U.S. major stock indexes all closed higher, with the Dow Jones Industrial Average up 0.76% at 49,174.5 points; the S&P 500 up 0.77% at 6,890.07 points; and the NASDAQ up 1.04% at 22,863.68 points.
Among Dow components, Salesforce rose over 4%, IBM increased more than 2%.
Most large tech stocks in the U.S. rose, with Tesla and Apple up over 2%, Amazon and Microsoft up more than 1%, Nvidia and Meta slightly higher; Google declined slightly.
Bank stocks showed mixed performance, with Citigroup and Bank of America down over 1%, Wells Fargo down less than 1%; Goldman Sachs and Morgan Stanley up over 1%.
Most airline stocks rose, with United Airlines up over 5%, Delta Airlines up more than 3%, American Airlines up over 1%; Southwest Airlines declined less than 1%.
Most chip stocks rose, with the Philadelphia Semiconductor Index up 1.45%. Specifically, AMD surged over 8%.
In news, AMD and Meta announced an expansion of their strategic partnership. Specifically, AMD and Meta agreed to establish a clear multi-year, multi-generation partnership, deploying up to 6 gigawatts of AMD Instinct GPUs.
According to reports, based on the AMD Helios rack-scale architecture announced at the 2025 Open Compute Project global summit, the first gigawatt deployment is expected to begin in the second half of 2026, powered by custom AMD Instinct GPUs based on the MI450 architecture, optimized for Meta’s workloads. AMD and Meta are deepening cooperation to align their GPU and CPU chip, system, and software roadmaps.
Other chip stocks included Intel, which rose over 5%, TSMC up more than 4%, ARM up over 3%, Qualcomm up over 3%; SanDisk fell over 4%, Texas Instruments down over 2%, Broadcom down more than 1%, Microchip Technology declined less than 1%.
Popular Chinese Concept Stocks Mostly Up
Most Chinese concept stocks rose, with the NASDAQ Golden Dragon China Index up 1.37%.
Among the gainers, Tuniu rose over 13%, Xpeng Motors nearly 7%, GDS Holdings, China Internet Nationwide Financial Services, and Daqo New Energy each up over 6%, NetEase Youdao, Niu Technologies up over 5%, JinkoSolar, BaWang Tea Princess nearly 5%, Kingsoft Cloud up over 4%, TAL Education Group up over 3%, Vipshop up over 2%, Tencent Music, Ctrip, Li Auto, JD.com, Pinduoduo, and others up over 1%.
Leading decliners included Zhengye Biological, which fell over 8%, Huya down over 3%, Hesai Technology down over 2%, Zai Lab and Pony.ai down over 1%.