BUSINESS
US-listed Chinese firms trade mostly higher
ECNS
13:58, January 22, 2023

U.S.-listed Chinese companies traded mostly higher on Friday, 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 Baidu and Li Auto rose 5.91 percent and 3.47 percent, respectively, leading the advancers in the top 10 stocks.

Shares of BeiGene and NetEase dipped 2.94 percent and 0.18 percent, respectively, the only two decliners in the top 10 stocks.

Wall Street's major averages climbed on Friday, boosted by strong gains in tech-related stocks.

The Dow Jones Industrial Average rose 330.93 points, or 1.00 percent, to 33,375.49. The S&P 500 added 73.76 points, or 1.89 percent, to 3,972.61. The Nasdaq Composite Index increased 288.17 points, or 2.66 percent, to 11,140.43.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, fell 3.27 percent to 19.85.

As of Thursday, 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 2,871.05, marking an 11.72-percent rise for the month-to-date returns and an 11.72-percent increase for the year-to-date returns.