Sun, 29 Nov 2020

U.S.-listed Chinese firms trade mostly lower

Xinhua
20 Oct 2020, 07:51 GMT+10

NEW YORK, Oct. 19 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Monday, with seven 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 NIO and TAL Education Group slid 2.98 percent and 1.77 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of Trip.com Group and Pinduoduo rose 0.94 percent and 0.15 percent, respectively, leading the gainers in the top 10 stocks.

Wall Street's major averages closed sharply lower on Monday as investors looked to updates on a U.S. stimulus deal, while weighing the impact of a continued increase in coronavirus cases.

The Dow Jones Industrial Average dropped 410.89 points, or 1.44 percent, to 28,195.42. The S&P 500 was down 56.89 points, or 1.63 percent, to 3,426.92. The Nasdaq Composite Index decreased 192.67 points, or 1.65 percent, to 11,478.88.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, surged 6.46 percent to 29.18.

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 4,490.08, marking a 4.68-percent increase for the month-to-date returns and a 41.77-percent gain for the year-to-date returns.

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