BUSINESS US-listed Chinese firms trade mostly higher

BUSINESS

US-listed Chinese firms trade mostly higher

Xinhua

08:30, August 26, 2021

New York Stock Exchange in New York, the United States (File photo: Xinhua)

NEW YORK, Aug. 25 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Wednesday with seven 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 Bilibili and JD.com advanced 1.54 percent and 1.22 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of Alibaba Group Holding and Pinduoduo fell 1.51 percent and 1.29 percent, respectively, leading the laggards in the top 10 stocks.

U.S. stocks climbed modestly on Wednesday, bolstered by strength in the financials sector.

The Dow Jones Industrial Average increased 39.24 points, or 0.11 percent, to 35,405.50. The S&P 500 rose 9.96 points, or 0.22 percent, to 4,496.19. The Nasdaq Composite Index was up 22.06 points, or 0.15 percent, to 15,041.86.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 2.5 percent to 16.79.

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 3,678.31, marking a 4.13-percent loss for the month-to-date returns and a 29.6-percent slide for the year-to-date returns.

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