U.S.-listed Chinese firms trade mostly higher

  • World
  • Thursday, 29 Sep 2022

NEW YORK, Sept. 28 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher 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 an upbeat note.

Shares of Alibaba Group Holding and Pinduoduo went up 4.01 percent and 3.26 percent, respectively, leading the advancers in the top 10 stocks.

Shares of Li Auto dipped 3.19 percent, the lone decliner in the top 10 stocks.

U.S. equities rallied on Wednesday as energy and communication services sectors led the broad market higher.

The Dow Jones Industrial Average jumped 548.75 points, or 1.88 percent, to 29,683.74. The S&P 500 increased 71.75 points, or 1.97 percent, to 3,719.04. The Nasdaq Composite Index rose 222.14 points, or 2.05 percent, to 11,051.64.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 7.42 percent to 30.18.

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 2,464.94, marking a 10.64-percent decrease for the month-to-date returns and a 17.24-percent loss for the year-to-date returns.

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