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

U.S.-listed Chinese firms trade mostly higher

Source: Xinhua| 2022-06-16 07:18:15|Editor:

NEW YORK, June 15 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Wednesday with eight 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 NIO and XPeng jumped 7.77 percent and 4.85 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of NetEase and Pinduoduo slipped 2.23 percent and 1.2 percent, respectively, the only two decliners in the top 10 stocks.

U.S. stocks climbed on Wednesday after the Federal Reserve delivered its biggest rate hike in almost three decades amid surging inflation.

The Dow Jones Industrial Average rose 303.70 points, or 1.00 percent, to 30,668.53. The S&P 500 added 54.51 points, or 1.46 percent, to 3,789.99. The Nasdaq Composite Index increased 270.80 points, or 2.50 percent, to 11,099.15.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 9.39 percent to 29.62.

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 2,614.56, marking a 6.58-percent gain for the month-to-date returns and a 12.22-percent loss for the year-to-date returns.