U.S.-listed Chinese firms trade mostly lower

  • World
  • Saturday, 24 Sep 2022

NEW YORK, Sept. 23 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Friday with eight 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 NIO shed 5.37 percent and 3.87 percent, respectively, leading the laggards in the top 10 stocks.

Shares of Li Auto and Trip.com Group rose 3.18 percent and 1.52 percent, respectively, the only two advancers in the index.

U.S. stocks dropped on Friday as heavy selling continued on Wall Street amid recession fears.

The Dow Jones Industrial Average decreased 486.27 points, or 1.62 percent, to 29,590.41. The S&P 500 sank 64.76 points, or 1.72 percent, to 3,693.23. The Nasdaq Composite Index slid 198.88 points, or 1.80 percent, to 10,867.93.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked 9.4 percent to 29.92.

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 2,468.58, marking a 10.51-percent decrease for the month-to-date returns and a 17.12-percent loss for the year-to-date returns.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In World

An assassination, a feud and the fight for power in Iraq's Kurdistan
Sudanese civilian parties, military sign framework deal for new political transition
Iranian city shops shut after strike call, judiciary blames 'rioters'
Bulgaria's GERB given a week to form government and end stalemate
Police: Deputy in US posed as teen online to sexually extort girl
Syria Kurds say they have resumed joint ops with U.S.-led coalition
Russia is boosting its cyberattacks on Ukraine,�allies, Microsoft says
UAE, Ukraine to start talks on bilateral trade deal - statement
North Korea fires over 130 artillery rounds as warning after South Korea-U.S. drills
South Africa's Ramaphosa awaits ANC panel ruling in 'Farmgate' scandal

Others Also Read