U.S.-listed Chinese firms trade flat

  • World
  • Saturday, 01 Oct 2022

NEW YORK, Sept. 30 (Xinhua) -- U.S.-listed Chinese companies traded roughly flat on Friday with five 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 rose 2.98 percent and 1.22 percent, respectively, leading the advancers in the top 10 stocks.

Shares of JD.com and Li Auto slid 1.85 percent and 1.54 percent, respectively, leading the laggards in the top 10 stocks.

U.S. stocks dropped on Friday after data showed the Federal Reserve's preferred inflation gauge came in hotter than expected in August.

The Dow Jones Industrial Average shed 500.1 points, or 1.71 percent, to 28,725.51. The S&P 500 fell 54.85 points, or 1.51 percent, to 3,585.62. The Nasdaq Composite Index was down 161.89 points, or 1.51 percent, to 10,575.62.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 0.69 percent to 31.62.

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 2,407.57, marking a 12.72-percent decrease for the month-to-date returns and a 19.17-percent loss for the year-to-date returns.

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