BUSINESS US-listed Chinese firms trade mostly higher

BUSINESS

US-listed Chinese firms trade mostly higher

Xinhua

06:47, October 28, 2020

NEW YORK, Oct. 27 (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 NIO and Pinduoduo surged 9.34 percent and 3.9 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of TAL Education Group and Trip.com Group dipped 4.09 percent and 2.87 percent, respectively, leading the laggards in the top 10 stocks.

U.S. stocks closed mixed on Tuesday as market sentiment was dented by the country's soaring COVID-19 infections.

The Dow Jones Industrial Average fell 222.19 points, or 0.8 percent, to 27,463.19. The S&P 500 decreased 10.29 points, or 0.3 percent, to 3,390.68. The Nasdaq Composite Index rose 72.41 points, or 0.64 percent, to 11,431.35.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed 2.74 percent to 33.35.

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 4,405.19, marking a 2.7-percent increase for the month-to-date returns and a 39.09-percent gain for the year-to-date returns. Enditem

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