iQiyi Inc. (IQ) saw its stock soar by 5.06% in pre-market trading on Wednesday, riding the wave of a broader rally in Chinese ADRs and ETFs. The surge comes amid renewed optimism regarding a potential de-escalation in US-China trade tensions, following encouraging comments from US President Donald Trump.

President Trump hinted at a softer stance towards China, stating plans to be "very nice" in any trade talks and suggesting that tariffs could be reduced if the two countries reach a deal. This shift in rhetoric has sparked hope among investors, leading to significant gains across Chinese stocks listed in the US. While iQiyi wasn't specifically mentioned, it appears to be benefiting from the overall positive sentiment in the sector.

The market's response to these developments has been notably strong, with other Chinese tech giants and ETFs also posting substantial gains. XPeng rose by 7.8%, YINN climbed 5.3%, and major players like PDD Holdings and Alibaba saw increases of 4% and 3.4% respectively. This widespread rally underscores the market's sensitivity to US-China relations and highlights the potential for further growth if trade negotiations continue to progress positively.