Mon, 21 Sep 2020

U.S.-listed Chinese firms trade mostly lower

Xinhua
07 Aug 2020, 07:44 GMT+10

NEW YORK, Aug. 6 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Thursday, with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Shares of Pinduoduo and JD.com slid 5.99 percent and 0.93 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of Yum China Holdings and ZTO Express gained 2.01 percent and 1.43 percent, respectively, leading the advancers in the top 10 stocks.

U.S. stocks rose on Thursday with the Nasdaq closing above the 11,000 mark for the first time, bolstered by strong gains in tech-related shares.

The Dow Jones Industrial Average increased 185.46 points, or 0.68 percent, to 27,386.98. The S&P 500 climbed 21.39 points, or 0.64 percent, to 3,349.16. The Nasdaq Composite Index advanced 109.67 points, or 1.00 percent, to 11,108.07.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 1.48 percent to 22.65.

As of Wednesday, the S&P U.S. Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on U.S. exchanges by total market cap, stood at 4,402.76, marking a 4.56-percent increase for the month-to-date returns and a 39.01-percent gain for the year-to-date returns.

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