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

U.S.-listed Chinese firms trade mostly higher

Source: Xinhua| 2022-06-24 06:48:15|Editor:

NEW YORK, June 23 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Thursday 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 XPeng and Alibaba Group Holding surged 7.82 percent and 6.62 percent, respectively, leading the gainers in the top 10 stocks.

Shares of NetEase slipped 0.87 percent, the lone decliner in the index.

U.S. stocks advanced on Thursday as Wall Street assessed the likelihood of a recession.

The Dow Jones Industrial Average rose 194.23 points, or 0.64 percent, to 30,677.36. The S&P 500 increased 35.84 points, or 0.95 percent, to 3,795.73. The Nasdaq Composite Index added 179.11 points, or 1.62 percent, to 11,232.19.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed 0.35 percent to 29.05.

As of Wednesday, 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 2,682.39, marking a 9.35-percent gain for the month-to-date returns and a 9.94-percent loss for the year-to-date returns.