U.S.-listed Chinese firms trade mostly lower


  • World
  • Wednesday, 23 Nov 2022

NEW YORK, Nov. 22 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Tuesday, 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 BeiGene and Li Auto dropped 9.3 percent and 4.78 percent, respectively, leading the laggards in the top 10 stocks.

Shares of Baidu rose 0.55 percent, the lone gainer in the top 10 stocks.

Wall Street's major indexes rallied on Tuesday as energy and materials sectors led the broad market higher.

The Dow Jones Industrial Average increased 397.82 points, or 1.18 percent, to 34,098.10. The S&P 500 rose 53.64 points, or 1.36 percent, to 4,003.58. The Nasdaq Composite Index increased 149.90 points, or 1.36 percent, to 11,174.41.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 4.79 percent to 21.29.

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 2,286.91, marking a 21.71-percent increase for the month-to-date returns and a 23.22-percent loss for the year-to-date returns.

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