Thu, 21 Jan 2021

U.S.-listed Chinese firms trade lower

01 Dec 2020, 08:44 GMT+10

NEW YORK, Nov. 30 (Xinhua) -- U.S.-listed Chinese companies traded roughly lower on Monday, with all 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 Alibaba Group Holding slipped 6.43 percent and 4.75 percent, respectively, leading the losses in the top 10 stocks in the index.

Shares of and TAL Education Group dipped 4.54 percent and 4.17 percent, respectively, also among the worst performers.

U.S. stocks dropped on Monday as the nation grapples with soaring COVID-19 infections.

The Dow Jones Industrial Average fell 271.73 points, or 0.91 percent, to end at 29,638.64. The S&P 500 slid 16.72 points, or 0.46 percent, to 3,621.63. The Nasdaq Composite Index decreased 7.11 points, or 0.06 percent, to 12,198.74.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, declined 1.3 percent to 20.57.

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 5,067.11, marking a 14.67-percent increase for the month-to-date returns and a 59.98-percent gain for the year-to-date returns.

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