BUSINESS US-listed Chinese firms trade mostly higher

BUSINESS

US-listed Chinese firms trade mostly higher

Xinhua

08:33, June 05, 2019

NEW YORK, June 4 (Xinhua) -- U.S.-listed Chinese companies traded higher on Tuesday 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.

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A drone of ZTO Express on exhibition in Hangzhou on Dec. 23, 2018. (File photo: VCG)

Shares of JD.com and Baidu gained 4.04 percent and 3.39 percent, respectively, leading the gainers in the top 10 stocks of the index.

Shares of ZTO Express and Yum China shed 0.5 percent and 0.1 percent, respectively, the only two decliners in the top 10 stocks of the index.

U.S. stocks closed higher on Tuesday as investors were encouraged by the central bank's resolve in maintaining the economic expansion, widely interpreted as a possibility of rate cut.

The Dow Jones Industrial Average rose 512.40 points, or 2.06 percent, to 25,332.18. The S&P 500 was up 58.82 points, or 2.14 percent, to 2,803.27. The Nasdaq Composite Index increased 194.10 points, or 2.65 percent, to 7,527.12.

As of Monday, the S&P U.S. Listed China 50 index stood at 2,521.36, marking a 0.04-percent decrease for the month-to-date returns and a 10.04-percent gain for the year-to-date returns.  


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