U.S.-listed Chinese firms trade mostly lower

  • World
  • Thursday, 07 Jul 2022

NEW YORK, July 6 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Wednesday with nine of 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 Pinduoduo and BeiGene dropped 7.4 percent and 6.91 percent, respectively, leading the laggards in the top 10 stocks.

Shares of Yum China Holdings climbed 1.06 percent, the lone advancer in the index.

U.S. stocks eked out modest gains on Wednesday after the Federal Reserve's latest meeting minutes signaled further monetary tightening to tackle inflation.

The Dow Jones Industrial Average rose 69.86 points, or 0.23 percent, to 31,037.68. The S&P 500 increased 13.69 points, or 0.36 percent, to 3,845.08. The Nasdaq Composite Index was up 39.61 points, or 0.35 percent, to 11,361.85.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 2.94 percent to 26.73.

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 2,887.99, marking a 2.81-percent gain for the month-to-date returns and a 3.04-percent loss for the year-to-date returns.

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