Shares of Baidu ( BIDU 9.13%) charged sharply higher on Tuesday, surging as much as 9%. As of 12:46 p.m. ET, the stock was still up 8.5%. The catalyst that sent the Chinese tech giant higher was a high-profile partnership for its self-driving car platform.

Asian sales of bonds that can be turned into shares have soared in 2025, heading toward multiyear highs, as interest rates remain elevated and rallying stocks create the right conditions for this corner of the market to thrive.

Chinese tech stocks surged on Wednesday following the U.S. government's decision to lift certain semiconductor export restrictions to China.

Alibaba stock, JD.com, Baidu and Tencent rise after China reported mixed economic data for the second quarter.