Chinese major stock indices closed on a high by midday Wednesday.

The ChiNext Index, together with the Shenzhen Component Index and the Shenzhen SME (small and medium-sized enterprises) BoardIndex, are major indices reflecting the performance of stocks listed on the Shenzhen Stock Exchange.

The ChiNext Index closed at 1,509.42 points, gaining 0.35 percent. Shenzhen Component Index rose 0.11 percent to end at 9,142.90 points. And Shenzhen SME closed at 5,718.04 points, a rise of 0.51 percent.

But the benchmark Shanghai Composite Index tumbled to 2,923.15 points, a drop of 0.11 percent.

The US stocks ended sharply lower on Tuesday. The Dow Jones lost 473.39 points, or 1.79 percent, to 25,965.09. S&P 500 Index dropped 1.65 percent to 2,884.05 points. NASDAQ Composite Index was down as much as 1.96 percent.

A trader who works at the New York Stock Exchange in New York City, United States, on May 7, 2019. (Photo: Xinhua)

The Asian market is on a roller coaster with Nikkei 225 plunging 1.55 percent with a net loss of 339.46 points. Hang Seng Index resumed on Tuesday but slid Wednesday with .57 percent down.

The international stock market used red to mark a drop, while Asian markets used red to indicate a rise. A Chinese netizen said that Wednesday morning is a "red open".