Fri, 16 Apr 2021

U.S.-listed Chinese firms trade lower

Xinhua
08 Apr 2021, 07:30 GMT+10

NEW YORK, April 7 (Xinhua) -- U.S.-listed Chinese companies traded roughly lower on Wednesday with all 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 NIO slumped 6.91 percent and 6.82 percent, respectively, leading the losses in the top 10 stocks in the index.

Shares of NetEase and ZTO Express dropped 3.62 percent and 3.03 percent, respectively, also among the worst performers in the top 10 stocks.

U.S. stocks finished mixed on Wednesday as investors pored through the newly-released meeting minutes from the Federal Reserve.

The Dow Jones Industrial Average added 16.02 points, or 0.05 percent, to 33,446.26. The S&P 500 was up 6.01 points, or 0.15 percent, to 4,079.95. The Nasdaq Composite Index fell 9.54 points, or 0.07 percent, to 13,688.84.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 5.3 percent to 17.16.

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 5,107.16, marking a 3.1-percent gain for the month-to-date returns and a 2.25-percent slide for the year-to-date returns.

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