BUSINESS US-listed Chinese firms trade higher

BUSINESS

US-listed Chinese firms trade higher

China Daily

07:37, June 15, 2022

Traders work on the floor of the New York Stock Exchange (NYSE) on June 14, 2022 in New York City. [Photo: Agencies]

NEW YORK -- US-listed Chinese companies traded higher on Tuesday with all the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on an upbeat note.

Shares of NIO and Pinduoduo soared 16.7 percent and 11.96 percent, respectively, leading the gains in the top 10 stocks in the index.

Shares of Bilibili and XPeng jumped 9.88 percent and 7.52 percent, respectively, also among the best performers in the top 10 stocks.

U.S. stocks closed mixed on Tuesday as investors awaited a key policy decision by the Federal Reserve.

The Dow Jones Industrial Average fell 151.91 points, or 0.50 percent, to 30,364.83. The S&P 500 lost 14.15 points, or 0.38 percent, to 3,735.48. The Nasdaq Composite Index was up 19.12 points, or 0.18 percent, to 10,828.35.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 3.91 percent to 32.69.

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 2,447.69, marking a 0.22-percent slide for the month-to-date returns and an 17.82-percent loss for the year-to-date returns.

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