U.S.-listed Chinese firms trade mostly higher

  • World
  • Saturday, 01 Aug 2020

NEW YORK, July 31 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Friday, 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 JD.com advanced 8.08 percent and 2.41 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of Trip.com Group and Alibaba Group Holding slipped 0.95 percent and 0.68 percent, respectively, the only two decliners in the top 10 stocks.

U.S. stocks finished higher on Friday, fueled by strong earnings reports from big tech names.

The Dow Jones Industrial Average increased 114.67 points, or 0.44 percent, to 26,428.32. The S&P 500 was up 24.90 points, or 0.77 percent, to 3,271.12. The Nasdaq Composite Index jumped 157.46 points, or 1.49 percent, to 10,745.27.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 1.21 percent to 24.46.

As of Thursday, 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 4,155.54, marking a 4.76-percent increase for the month-to-date returns and a 31.20-percent gain for the year-to-date returns.

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