Tue, 09 Mar 2021

U.S.-listed Chinese firms trade mostly lower

Xinhua
23 Jan 2021, 08:05 GMT+10

NEW YORK, Jan. 22 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Friday with seven 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 New Oriental Education & Technology Group and TAL Education Group dropped 7.53 percent and 2.61 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of NIO and NetEase climbed 6.19 percent and 0.63 percent, respectively, leading the gainers in the top 10 stocks.

U.S. stocks finished mixed on Friday as soaring COVID-19 infections continue to present a headwind.

The Dow Jones Industrial Average was down 179.03 points, or 0.57 percent, to 30,996.98. The S&P 500 fell 11.60 points, or 0.30 percent, to 3,841.47. The Nasdaq Composite Index was up 12.15 points, or 0.09 percent, to 13,543.06.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, rose 2.77 percent to 21.91.

As of Thursday, 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 5,838.41, marking an 11.75-percent gain for the month-to-date returns and an 11.75-percent rise for the year-to-date returns.

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