Mon, 21 Sep 2020

U.S.-listed Chinese firms trade higher

Xinhua
04 Aug 2020, 08:05 GMT+10

NEW YORK, Aug. 3 (Xinhua) -- U.S.-listed Chinese companies traded roughly higher on Monday, with all 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 TAL Education Group surged 4.61 percent and 3.58 percent, respectively, leading the gains in the top 10 stocks in the index.

Alibaba Group Holding and Trip.com Group advanced 2.76 percent and 2.54 percent, respectively, also among the best performers in the top 10 stocks.

U.S. stocks ended higher on Monday, bolstered by strong gains in big tech names.

The Dow Jones Industrial Average rose 236.08 points, or 0.89 percent, to 26,664.40. The S&P 500 was up 23.49 points, or 0.72 percent, to 3,294.61. The Nasdaq Composite Index increased 157.52 points, or 1.47 percent, to 10,902.80.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 0.74 percent to 24.28.

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 4,210.92, marking a 6.15-percent increase for the month-to-date returns and a 32.95-percent gain for the year-to-date returns.

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