U.S.-listed Chinese firms trade mostly higher

NEW YORK, Jan. 20 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Wednesday with six 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 JD.com surged 5.5 percent and 4.56 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of New Oriental Education & Technology Group and NIO slid 2.33 percent and 1.25 percent, respectively, leading the laggards in the top 10 stocks.

Wall Street's major averages closed at new record highs after Joe Biden was sworn in as the 46th U.S. president.

The Dow Jones Industrial Average rose 257.86 points, or 0.83 percent, to 31,188.38. The S&P 500 increased 52.94 points, or 1.39 percent, to 3,851.85. The Nasdaq Composite Index jumped 260.07 points, or 1.97 percent, to 13,457.25.

The Cboe Volatility Index widely considered as the best fear gauge in the stock market, slipped 7.14 percent to 21.58.

As of Tuesday, 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 5,694.60, marking a 9-percent gain for the month-to-date returns and a 9-percent rise for the year-to-date returns.

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