Thu, 26 Nov 2020

U.S.-listed Chinese firms trade roughly flat

22 Oct 2020, 07:51 GMT+10

NEW YORK, Oct. 21 (Xinhua) -- U.S.-listed Chinese companies traded roughly flat on Wednesday, with five 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 Pinduoduo rose 3.66 percent and 1.3 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of TAL Education Group and Alibaba Group Holding slid 6.72 percent and 0.59 percent, respectively, leading the laggards in the top 10 stocks.

U.S. stocks finished lower on Wednesday as Wall Street monitored developments on additional coronavirus stimulus.

The Dow Jones Industrial Average decreased 97.97 points, or 0.35 percent, to 28,210.82. The S&P 500 fell 7.56 points, or 0.22 percent, to 3,435.56. The Nasdaq Composite Index was down 31.80 points, or 0.28 percent, to 11,484.69.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 2.39 percent to 28.65.

As of Tuesday, 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 4,517.03, marking a 5.31-percent increase for the month-to-date returns and a 42.62-percent gain for the year-to-date returns.

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