U.S.-listed Chinese firms trade mostly higher
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E-mail Xinhua, May 26, 2022
NEW YORK, May 25 (Xinhua) -- 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 BeiGene rose 3.65 percent and 3.59 percent, respectively, leading the gainers in the top 10 stocks in the index.
Shares of Alibaba Group Holding decreased 0.19 percent, the only decliner in the top 10 stocks.
U.S. stocks climbed on Wednesday after the Federal Reserve's May meeting minutes signaled further rate hikes to curb inflation.
The Dow Jones Industrial Average rose 191.66 points, or 0.60 percent, to 32,120.28. The S&P 500 added 37.25 points, or 0.95 percent, to 3,978.73. The Nasdaq Composite Index increased 170.29 points, or 1.51 percent, to 11,434.74.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 3.67 percent to 28.37.
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 2,122.58, marking a 9.83-percent slide for the month-to-date returns and a 28.74-percent loss for the year-to-date returns. Enditem
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