Thu, 17 Jun 2021

U.S.-listed Chinese firms trade mostly higher

Xinhua
12 May 2021, 07:30 GMT+10

NEW YORK, May 11 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Tuesday with eight 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 Pinduoduo and Baidu rose 3.48 percent and 3.42 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of TAL Education Group and New Oriental Education & Technology Group slid 1.97 percent and 1.04 percent, respectively, the only two decliners in the top 10 stocks.

U.S. stocks sank on Tuesday as selling pressure continued on Wall Street.

The Dow Jones Industrial Average fell 473.66 points, or 1.36 percent, to 34,269.16. The S&P 500 decreased 36.33 points, or 0.87 percent, to end at 4,152.10. The Nasdaq Composite Index lost 12.43 points, or 0.09 percent, to 13,389.43.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked 11.09 percent to 21.84.

As of Monday, 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 4,469.43, marking a 9.42-percent loss for the month-to-date returns and a 14.45-percent slide for the year-to-date returns.

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