BUSINESS US-listed Chinese firms trade mostly lower


US-listed Chinese firms trade mostly lower


08:30, January 28, 2023

NEW YORK, Jan. 27 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Friday, with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Shares of Alibaba Group Holding and Group dropped 1.82 percent and 1.62 percent, respectively, leading the decliners in the top 10 stocks.

Shares of NIO and went up 4.44 percent and 1 percent, respectively, leading the advancers in the top 10 stocks.

Wall Street's major averages climbed on Friday as investors digested the latest economic data.

The Dow Jones Industrial Average rose 28.67 points, or 0.08 percent, to 33,978.08. The S&P 500 added 10.13 points, or 0.25 percent, to 4,070.56. The Nasdaq Composite Index increased 109.30 points, or 0.95 percent, to 11,621.71.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, fell 1.17 percent to 18.51.

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 3,060.84, marking a 19.11-percent rise for the month-to-date returns and a 19.11-percent increase for the year-to-date returns.

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