Baidu, the Chinese tech giant, saw its stock price surge 5.16% in a 24-hour period, riding on a wave of optimism following the U.S. administration's decision to pause tariffs on certain electronic imports. This move has sparked a rally across tech stocks and Chinese ADRs in overnight trading.

The temporary reprieve on duties for goods ranging from smartphones to laptop computers and memory chips has provided a significant boost to tech firms that heavily rely on imported products. While Baidu's stock climb was notable, it was part of a broader trend that saw other Chinese ADRs also posting gains. Companies like iQiyi, XPeng, NIO, and Alibaba all experienced increases, with iQiyi leading the pack with a 5% rise.

This positive movement in Baidu's stock price reflects investor optimism about reduced trade tensions and potential benefits for Chinese tech companies operating in the U.S. market. However, market volatility may persist as the U.S. President has signaled that separate duties on consumer electronics and microchips are being planned, leaving the long-term impact on companies like Baidu uncertain.