U.S.-listed Chinese firms trade lower

  • World
  • Thursday, 28 Jan 2021

NEW YORK, Jan. 27 (Xinhua) -- U.S.-listed Chinese companies traded roughly lower on Wednesday with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Shares of JD.com and NIO slipped 7.09 percent and 5.24 percent, respectively, leading the losses in the top 10 stocks in the index.

Shares of Baidu and Pinduoduo dropped 4.48 percent and 4.41 percent, respectively, also among the worst performers.

U.S. stocks fell sharply on Wednesday as market sell-off intensified on Wall Street.

The Dow Jones Industrial Average tumbled 633.87 points, or 2.05 percent, to 30,303.17. The S&P 500 fell 98.85 points, or 2.57 percent, to 3,750.77. The Nasdaq Composite Index shed 355.47 points, or 2.61 percent, to 13,270.60.

The Cboe Volatility Index widely considered as the best fear gauge in the stock market, spiked 61.64 percent to 37.21.

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 5,930.01, marking a 13.5-percent gain for the month-to-date returns and a 13.5-percent rise for the year-to-date returns.

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