Wed, 21 Oct 2020

U.S.-listed Chinese firms post mixed performance

Xinhua
22 Sep 2020, 09:44 GMT+10

NEW YORK, Sept. 21 (Xinhua) -- U.S.-listed Chinese companies saw mixed trading on Monday, with five of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day in losses and another five on the rise.

Shares of Net Ease Inc. and JD.com picked up 2.97 percent and 0.85 percent, respectively, leading the gainers in the top 10 stocks in the index.

Meanwhile, the shares of ZTO Express and TAL Education Group dropped 6.37 percent and 3.46 percent, respectively.

U.S. stocks recorded the third consecutive loss-making session in a row as investors' sentiment was hit by concerns on a new wave of coronavirus infections and U.S. domestic political fight before the presidential election.

The Dow Jones Industrial Average sank 509.72 points, or 1.84 percent, to 27,147.70. The S&P 500 fell 38.41 points, or 1.16 percent, to 3,281.06. The Nasdaq Composite Index dipped 14.48 points, or 0.13 percent, to 10,778.80.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, jumped 7.55 percent to 27.78.

As of Friday, 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 4,213.97, marking a 4.32-percent loss for the month-to-date returns and a 33.05-percent gain for the year-to-date returns.

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