U.S.-listed Chinese firms trade mostly lower
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E-mail Xinhua, May 28, 2020
NEW YORK, May 27 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower 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 a downbeat note.
Shares of Pinduoduo and ZTO Express shed 7.04 percent and 5.78 percent, respectively, leading the decliners in the top 10 stocks in the index.
Shares of Yum China Holdings closed flat at 45.09 U.S. dollars apiece.
U.S. stocks ended higher on Wednesday as investors weighed the possibility of normalizing economic activities.
The Dow Jones Industrial Average surged 553.16 points, or 2.21 percent, to 25,548.27. The S&P 500 rose 44.36 points, or 1.48 percent, to 3,036.13. The Nasdaq Composite Index was up 72.14 points, or 0.77 percent, to 9,412.36.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 1.39 percent to 27.62.
As of Tuesday, the S&P U.S. Listed China 50 index stood at 3,468.05, marking a 7.27-percent increase for the month-to-date returns and a 9.50-percent gain for the year-to-date returns. Enditem
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