The Nasdaq Golden Dragon China Index closed down 2.80% at 6,839.65 points, with a cumulative decline of 2.22% this week.

Among popular Chinese concept stocks, Kingsoft Cloud closed down 9.4%, Alibaba fell 6.2%, Bilibili, Pony.ai, WeRide, and Baidu all dropped at least 5.6%. For ETFs, the China Internet Index ETF (KWEB) closed down 3.53%, with a weekly pullback of 4.67%; the China Technology Index ETF (CQQQ) closed down 3.06%, with a weekly pullback of 3.17%; Xtrackers Harvest CSI 50 (ASHS) closed down 2.05%, with a weekly pullback of 2.06%; Deutsche Bank Harvest CSI 300 Index ETF (ASHR) closed down 1.85%, with a weekly pullback of 0.73%, ending a previous six-week streak of gains.