Companies

U.S.-listed Chinese firms trade mostly lower

Xinhua News,NEW YORK
2020-04-02 05:18

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U.S.-listed Chinese companies traded mostly lower 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 a downbeat note.

Shares of Trip.com Group and Yum China Holdings sank 5.54 percent and 3.85 percent, respectively, leading the laggards in the top 10 stocks in the index.

JD.com and NetEase rose 1.01 percent and 0.75 percent, respectively, the only two gainers in the top 10 stocks.

Wall Street's major averages tumbled on Wednesday amid deepening concerns over the rapid spread of COVID-19 in the country.

The Dow Jones Industrial Average slumped 973.65 points, or 4.44 percent, to close at 20,943.51. The S&P 500 fell 114.09 points, or 4.41 percent, to 2,470.50. The Nasdaq Composite Index shed 339.52 points, or 4.41 percent, to 7,360.58.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed 6.57 percent to 57.06 on Wednesday.

As of Tuesday, the S&P U.S. Listed China 50 index stood at 2,992.26, marking a 5.15-percent decrease for the month-to-date returns and a 5.52-percent loss for the year-to-date returns.
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