U.S.-listed Chinese firms trade mostly higher

  • World
  • Wednesday, 25 Nov 2020

NEW YORK, Nov. 24 (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 Alibaba Group Holding and NetEase rallied 3.65 percent and 2.88 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of NIO and New Oriental Education & Technology Group slid 3.38 percent and 1.23 percent, respectively, the only two decliners in the top 10 stocks.

U.S. stocks jumped on Tuesday with the Dow finishing above the 30,000 mark for the first time, as positive momentum continued on Wall Street.

The Dow Jones Industrial Average rose 454.97 points, or 1.54 percent, to end at 30,046.24. The S&P 500 increased 57.82 points, or 1.62 percent, to 3,635.41. The Nasdaq Composite Index was up 156.15 points, or 1.31 percent, to 12,036.79.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, slipped 4.5 percent to 21.64.

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 5,015.62, marking a 13.5-percent increase for the month-to-date returns and a 58.36-percent gain for the year-to-date returns.

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