Fri, 30 Oct 2020

U.S.-listed Chinese firms edge mostly lower

Xinhua
19 Sep 2020, 09:30 GMT+10

NEW YORK, Sept. 18 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Friday, with eight of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day in losses.

Shares of Pinduoduo and Yum China Holdings shed 1.49 percent and 1.37 percent, respectively, leading the laggards in the top 10 stocks in the index.

Meanwhile, the shares of electric vehicle maker NIO and e-commerce platform JD.com bucked the trend and recorded marginal gains on Friday.

U.S. stocks sank further on Friday as investors' sentiment was weighed on amid mixed economic data and continuous geopolitical tensions.

The Dow Jones Industrial Average fell 244.56 points, or 0.88 percent, to 27,657.42. The S&P 500 dropped 37.54 points, or 1.12 percent, to 3,319.47. The Nasdaq Composite Index gave up 116.99 points, or 1.07 percent, to 10,793.28.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dipped 2.38 percent to 25.83.

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 4,234.58, marking a 3.86-percent loss for the month-to-date returns and a 33.7-percent gain for the year-to-date returns.

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