CHINA US-listed Chinese firms trade mostly lower

CHINA

US-listed Chinese firms trade mostly lower

Xinhua

07:51, July 01, 2022

NEW YORK, June 30 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower 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 a downbeat note.

(Photo: VCG)

Shares of Alibaba Group Holding and Pinduoduo slid 2.03 percent and 2.01 percent, respectively, leading the laggards in the top 10 stocks.

Shares of Yum China Holdings and NetEase advanced 1.87 percent and 0.91 percent, respectively, the only two gainers in the index.

U.S. stocks fell on Thursday as worries over high inflation and a possible recession persist.

The Dow Jones Industrial Average dropped 253.88 points, or 0.82 percent, to 30,775.43. The S&P 500 decreased 33.45 points, or 0.88 percent, to 3,785.38. The Nasdaq Composite Index lost 149.15 points, or 1.33 percent, to 11,028.74.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, rose 1.95 percent to 28.71.

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 2,819.45, marking a 14.93-percent gain for the month-to-date returns and a 5.34-percent loss for the year-to-date returns.


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