ECB'S LANE: DEMAND DESTRUCTION CHANNELS LIMIT THE REQUIRED ADJUSTMENT IN THE MONETARY STANCE, FISCAL EXPANSION DOES OPPOSITE

NASDAQ GOLDEN DRAGON CHINA INDEX EXTENDS GAINS, UP 4%; KINGSOFT CLOUD JUMPS 18.8%, JD.COM RISES 7.7%, AND BAIDU GAINS 7%

Shares of Chinese AI developers surged as Nvidia CEO Jensen Huang joined President Trump’s Beijing trip, raising hopes for H200 chip access. MiniMax Group and Zhipu climbed 18% and 38% respectively, driven by expectations that onshore LLMs could benefit from better Nvidia chips. Investors are increasingly focused on AI developments, with Huang’s last-minute addition spotlighting technology ahead of the high-stakes summit.