Thu, 29 Oct 2020

U.S.-listed Chinese firms trade mostly lower

17 Sep 2020, 07:18 GMT+10

NEW YORK, Sept. 16 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Wednesday, 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 and ZTO Express slid 2.48 percent and 1.15 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of Baidu and Group rose 1.24 percent and 1.14 percent, respectively, leading the gainers in the top 10 stocks.

U.S. stocks closed mixed on Wednesday as tech shares struggled, weighing on the market.

The Dow Jones Industrial Average increased 36.78 points, or 0.13 percent, to 28,032.38. The S&P 500 fell 15.71 points, or 0.46 percent, to 3,385.49. The Nasdaq Composite Index decreased 139.85 points, or 1.25 percent, to 11,050.47.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed 1.76 percent to 26.04.

As of Tuesday, 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 4,260.63, marking a 3.26-percent loss for the month-to-date returns and a 34.52-percent gain for the year-to-date returns.

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