U.S.-listed Chinese firms trade mostly higher

NEW YORK, Feb. 7 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Tuesday, with eight of 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 Baidu and Yum China Holdings climbed 12.18 percent and 3.3 percent, respectively, leading the advancers in the top 10 stocks.

Shares of NIO and NetEase slipped 0.09 percent and 0.05 percent, respectively, the only two decliners in the top 10 stocks.

Wall Street's major averages gained on Tuesday after Federal Reserve Chair Jerome Powell reiterated that continued rate increases will be appropriate and that the "disinflationary process" has begun.

The Dow Jones Industrial Average rose 265.67 points, or 0.78 percent, to 34,156.69. The S&P 500 added 52.92 points, or 1.29 percent, to 4,164. The Nasdaq Composite Index increased 226.34 points, or 1.9 percent, to 12,113.79.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 3.96 percent to 18.66.

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 2,840.52, marking a 2.41-percent loss for the month-to-date returns and a 10.54-percent increase for the year-to-date returns.

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