U.S.-listed Chinese firms trade higher

  • World
  • Wednesday, 05 Oct 2022

NEW YORK, Oct. 4 (Xinhua) -- U.S.-listed Chinese companies traded higher on Tuesday, with all 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 NIO and Pinduoduo surged 8.01 percent and 6.1 percent, respectively, leading the gainers in the top 10 stocks.

Shares of BeiGene and Yum China Holdings climbed 5.69 percent and 5.38 percent, respectively, also among the best performers.

U.S. stocks soared on Tuesday, clawing back some of the ground lost in recent months.

The Dow Jones Industrial Average jumped 825.43 points, or 2.8 percent, to 30,316.32. The S&P 500 was up 112.50 points, or 3.06 percent, to 3,790.93. The Nasdaq Composite Index increased 360.98 points, or 3.34 percent, to 11,176.41.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 3.42 percent to 29.07.

As of Monday, 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 2,392.77, marking a 0.37-percent gain for the month-to-date returns and a 19.66-percent loss for the year-to-date returns.

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