Thu, 17 Jun 2021

U.S.-listed Chinese firms trade lower

Xinhua
11 May 2021, 07:05 GMT+10

NEW YORK, May 10 (Xinhua) -- U.S.-listed Chinese companies roughly traded 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 Pinduoduo and NIO tumbled 9.11 percent and 7.07 percent, respectively, leading the losses in the top 10 stocks in the index.

Shares of Bilibili and JD.com slid 6.91 percent and 5.44 percent, respectively, also among the worst performers.

U.S. stocks sank on Monday, dragged down by overall weakness in tech sector.

The Dow Jones Industrial Average lost 34.94 points, or 0.10 percent, to 34,742.82. The S&P 500 slid 44.17 points, or 1.04 percent, to 4,188.43. The Nasdaq Composite Index shed 350.38 points, or 2.55 percent, to 13,401.86.

The Cboe Volatility Index widely considered as the best fear gauge in the stock market, spiked 17.8 percent to 19.66.

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 4,722.65, marking a 4.29-percent loss for the month-to-date returns and a 9.61-percent slide for the year-to-date returns.

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