U.S.-listed Chinese firms trade mostly lower


  • World
  • Tuesday, 07 Feb 2023

NEW YORK, Feb. 6 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Monday, 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 NIO pulled back 4.56 percent and 2.32 percent, respectively, leading the decliners in the top 10 stocks.

Shares of Trip.com Group rose 1.09 percent, the lone advancer in the top 10 stocks.

Wall Street's major averages fell on Monday as strong January U.S. jobs report dampened hopes of a dovish pivot by the Federal Reserve.

The Dow Jones Industrial Average decreased 34.99 points, or 0.1 percent, to 33,891.02. The S&P 500 sank 25.4 points, or 0.61 percent, to 4,111.08. The Nasdaq Composite Index shed 119.50 points, or 1 percent, to 11,887.45.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, surged 6 percent to 19.43.

As of Friday, 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 2,872.84, marking a 1.3-percent loss for the month-to-date returns and an 11.79-percent increase for the year-to-date returns.

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