The Nasdaq Golden Dragon China Index opened down 0.76%, dragged lower by a sharp sell-off in Chinese electric vehicle manufacturers, with NIO declining by 5%.
On December 31, Shandong Zhanggu Blower disclosed it is under investigation by the China Securities Regulatory Commission for suspected illegal financial reporting.
Investment bank KBW upgraded TeraWulf (WULF) to "outperform" and more than doubled its price target to $24, citing the company's strategic pivot from bitcoin mining to AI and high-performance computing.