Shares of Bilibili and Pinduoduo tumbled 9.13 percent and 5.12 percent, respectively, leading the laggards in the top 10 stocks in the index.
Shares of Yum China Holdings rose 0.44 percent, the lone gainer in the top 10 stocks.
U.S. stocks finished mixed on Tuesday amid overall weakness in the energy sector.
The Dow Jones Industrial Average fell 208.98 points, or 0.60 percent, to 34,577.37. The S&P 500 lost 8.80 points, or 0.20 percent, to 4,343.54. The Nasdaq Composite Index increased 24.32 points, or 0.17 percent, to 14,663.64.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, surged 9.09 percent to 16.44.
U.S. financial markets were closed on Monday in observance of the Independence Day holiday.
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 4,642.42, marking a 3.36-percent loss for the month-to-date returns and an 11.14-percent slide for the year-to-date returns.
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