US Stocks Movement | Most Popular Chinese Stocks Rise Premarket, Hesai Group (HSAI.US) Surges Over 9%

Stock News11-24

On Monday, most popular Chinese stocks saw gains in premarket trading, with Hesai Group (HSAI.US) leading the rally, up over 9%. Bilibili (BILI.US) and Pony.ai (PONY.US) rose nearly 7%, while NIO (NIO.US) and NetEase (NTES.US) climbed more than 4%. Alibaba (BABA.US) and Baidu (BIDU.US) also advanced close to 4%. Meanwhile, the Hang Seng Tech Index surged 2.87% intraday.

Reports indicate that Hesai Group, a lidar technology company, has secured full-series vehicle collaborations for 2026 with its top two ADAS clients, achieving 100% standard adoption of its lidar systems. Sources familiar with the matter revealed that these clients are Xiaomi and Li Auto.

In other news, Alibaba’s AI app "Qianwen" surpassed 10 million downloads within a week of its launch, becoming the fastest-growing AI application and receiving strong market enthusiasm.

Despite recent pullbacks in global tech stocks, Chinese equities have garnered bullish outlooks from multiple foreign investment banks. Morgan Stanley, JPMorgan, and UBS recently expressed optimistic views on Chinese stocks. Morgan Stanley projected further gains for Chinese equities in 2026, extending this year’s robust performance.

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