U.S.-listed Chinese firms trade mostly higher
Aug 25, 2022
New York [US], August 25: U.S.-listed Chinese companies traded mostly higher on Wednesday with nine 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 Pinduoduo and JD.com surged 5.35 percent and 3.92 percent, respectively, leading the gainers in the top 10 stocks.
Shares of Yum China Holdings slipped 1.27 percent, the lone decliner in the index.
U.S. stocks climbed on Wednesday as Wall Street assessed the Federal Reserve's policy path forward.
The Dow Jones Industrial Average increased 59.64 points, or 0.18 percent, to 32,969.23. The S&P 500 was up 12.04 points, or 0.29 percent, to 4,140.77. The Nasdaq Composite Index rose 50.23 points, or 0.41 percent, to 12,431.53.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, sank 5.35 percent to 22.82.
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 2,542.58, marking a 0.42-percent slide for the month-to-date returns and a 14.63-percent loss for the year-to-date returns.
Source: Xinhua
