U.S.-listed Chinese firms trade mostly lower

  • World
  • Saturday, 04 Feb 2023

NEW YORK, Feb. 3 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Friday, 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 NIO and Li Auto sank 6.44 percent and 5.96 percent, respectively, leading the decliners in the top 10 stocks.

Shares of BeiGene rose 0.73 percent, the lone advancer in the top 10 stocks.

Wall Street's major averages fell on Friday as strong January U.S. jobs report prompted concerns over higher rates.

The Dow Jones Industrial Average decreased 127.93 points, or 0.38 percent, to 33,926.01. The S&P 500 sank 43.28 points, or 1.04 percent, to 4,136.48. The Nasdaq Composite Index shed 193.86 points, or 1.59 percent, to 12,006.95.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 1.76 percent to 18.40.

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 2,963.08, marking a 1.8-percent rise for the month-to-date returns and a 15.31-percent increase for the year-to-date returns.

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