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On the 22nd local time, driven by a rebound in technology stocks, the three major U.S. stock indexes closed higher collectively, with the Nasdaq up 1.58%, the S&P 500 up 1.08%, and the Dow up 0.32%.

The Wall Street Journal analyzed that in recent trading days, investors have been selling high-growth technology stocks and buying stocks of smaller companies, partly because they bet that these companies will benefit more if the Federal Reserve starts to cut interest rates in the coming months. However, this rotation paused on Monday, and traders returned to their favorite technology companies.

Reuters pointed out that Biden's withdrawal from the election may prompt investors to close their positions as they bet that Trump's victory will increase fiscal and inflationary pressures in the United States. But some analysts said the market may benefit from the increased possibility of a divided U.S. government under the next administration.

On the market, most large technology stocks rose, bank stocks were mixed, energy stocks fell across the board, and chip stocks performed strongly.

Popular Chinese concept stocks rose across the board, with Xpeng Motors up more than 6%, NIO up more than 5%, Li Auto up more than 4%, Weibo up more than 3%, NetEase, JD.com, Baidu, Bilibili up more than 2%, Alibaba and Vipshop up more than 1%, and Pinduoduo and Futu Holdings up slightly. (China News Service)