U.S.-listed Chinese firms trade mostly higher

NEW YORK, May 27 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Friday with nine 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 NIO climbed 15.19 percent and 3.37 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of Alibaba Group Holding slipped 1.13 percent, the lone decliner in the top 10 stocks.

U.S. stocks rallied on Friday as market sentiment was lifted by a slowing inflation report.

The Dow Jones Industrial Average rose 575.77 points, or 1.76 percent, to 33,212.96. The S&P 500 added 100.40 points, or 2.47 percent, to 4,158.24. The Nasdaq Composite Index increased 390.48 points, or 3.33 percent, to 12,131.13.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 6.47 percent to 25.72.

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 2,348.25, marking a 0.24-percent slide for the month-to-date returns and a 21.16-percent loss for the year-to-date returns.

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