BUSINESS US-listed Chinese firms trade mostly higher


US-listed Chinese firms trade mostly higher


06:39, November 06, 2020

U.S.-listed Chinese companies traded mostly higher on Thursday, with eight 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 Group soared 12.3 percent and 5.66 percent respectively, leading the gainers in the top 10 stocks in the index.

Shares of Alibaba Group and NetEase slid 2.69 percent and 2.24 percent, respectively, the only two decliners in the top 10 stocks.

U.S. stocks jumped on Thursday, as Wall Street followed election-related news and digested the Federal Reserve's latest rate decision.

The Dow Jones Industrial Average rose 542.52 points, or 1.95 percent, to finish at 28,390.18. The S&P 500 was up 67.01 points, or 1.95 percent, to 3,510.45. The Nasdaq Composite Index increased 300.15 points, or 2.59 percent, to 11,890.93.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 6.73 percent to 27.58.

As of Wednesday, 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 4,774.43, marking an 8.04-percent increase for the month-to-date returns and a 50.74-percent gain for the year-to-date returns.

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