iQIYI (IQ) Loses 6.8% as Funds Flock to AI

Group 1 - iQIYI Inc. shares fell by 6.81% to close at $2.6 as investors shifted focus to artificial intelligence amid ongoing US-China trade tensions [1][3] - China issued warnings to the US regarding interference in Taiwan and the South China Sea, negatively impacting investor sentiment towards Chinese companies [2] - Several Chinese firms are planning secondary listings on the Hong Kong Stock Exchange due to fears of potential delisting from US markets, indicating persistent concerns over US-China relations [3] Group 2 - iQIYI is preparing for an initial public offering on the Hong Kong Stock Exchange, potentially raising up to $300 million, with an application expected by the end of Q3 [4] - The company has engaged Bank of America, JPMorgan, and China International Capital Corp. to assist with its Hong Kong listing, scheduled for February 2026 [4]