U.S.-listed Chinese firms trade mostly lower-Xinhua

U.S.-listed Chinese firms trade mostly lower

Source: Xinhua| 2022-05-24 07:33:58|Editor:

NEW YORK, May 23 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Monday 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 XPeng and NIO slipped 5.54 percent and 2.68 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of JD.com and Alibaba Group Holding rose 2.22 percent and 0.51 percent, respectively, leading the gainers in the top 10 stocks.

U.S. stocks rallied on Monday, reclaiming some of the heavy losses they had suffered recently, bolstered by solid gains in bank shares.

The Dow Jones Industrial Average jumped 618.34 points, or 1.98 percent, to 31,880.24. The S&P 500 increased 72.39 points, or 1.86 percent, to 3,973.75. The Nasdaq Composite Index rose 180.65 points, or 1.59 percent, to 11,535.27.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 3.23 percent to 28.48.

As of Friday, 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 2,278.75, marking a 3.2-percent slide for the month-to-date returns and a 23.49-percent loss for the year-to-date returns.