Wed, 30 Sep 2020

U.S.-listed Chinese firms trade mostly higher

Xinhua
12 Aug 2020, 07:18 GMT+10

NEW YORK, Aug. 11 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Tuesday, with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

Shares of Yum China Holdings and TAL Education Group rose 1.66 percent and 1.2 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of JD.com and NetEase slid 0.5 percent and 0.41 percent, respectively, leading the laggards in the top 10 stocks.

U.S. stocks dropped on Tuesday, dragged by losses in big tech names.

The Dow Jones Industrial Average fell 104.53 points, or 0.38 percent, to close at 27,686.91. The S&P 500 was down 26.78 points, or 0.80 percent, to 3,333.69. The Nasdaq Composite Index decreased 185.53 points, or 1.69 percent, to 10,782.82.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, jumped 8.59 percent to 24.03.

As of Monday, 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 4,199.40, marking a 0.27-percent decline for the month-to-date returns and a 32.59-percent gain for the year-to-date returns.

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