Popular Chinese concept stocks fell by nearly 8%, with Xiaopeng Automobile falling by nearly 8%, NIO falling by over 6%, Futu Holdings falling by over 5%, Bilibili, iQiyi, Tencent Music, Vipshop, Baidu falling by over 3%, Ideal Automobile, Alibaba falling by over 2%, Weibo falling by over 1%, NetEase and JD.com slightly falling.