U.S.-listed Chinese firms trade higher

NEW YORK, Nov. 30 (Xinhua) -- U.S.-listed Chinese companies traded higher on Wednesday, 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 Li Auto spiked 21.71 percent and 18.73 percent, respectively, leading the advance in the top 10 stocks.

Shares of Alibaba Group Holding and Trip.com Group added 9.64 percent and 9.42 percent, respectively, also among the best performers.

Wall Street's major indexes surged on Wednesday after Federal Reserve Chairman Jerome Powell indicated smaller rate hikes ahead.

The Dow Jones Industrial Average rose 737.24 points, or 2.18 percent, to 34,589.77. The S&P 500 increased 122.48 points, or 3.09 percent, to 4,080.11. The Nasdaq Composite Index was up 484.22 points, or 4.41 percent, to 11,468.00.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 5.98 percent to 20.58.

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 2,407.77, marking a 28.14-percent increase for the month-to-date returns and a 19.16-percent loss for the year-to-date returns.

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