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U.S.-listed Chinese firms trade lower

NEW YORK
2019-05-23 05:25

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NEW YORK, May 22 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Wednesday with all 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 Yum China Holdings decreased 3.12 percent, leading the decliners in the top 10 stocks of the index.

Shares of JD.com and Alibaba Group Holding Limited slid 2.82 percent and 2.81 percent, respectively, also among the worst performers.

Wall Street pulled back on Wednesday as market mood was dampened by a steep sell-off in Qualcomm shares.

The Dow Jones Industrial Average fell 100.72 points, or 0.39 percent, to 25,776.61. The S&P 500 erased 8.09 points, or 0.28 percent, to 2,856.27. The Nasdaq Composite Index decreased 34.88 points, or 0.45 percent, to 7,750.84.

The Cboe Volatility index, widely considered the best fear gauge in the stock market, decreased 1.34 percent to 14.75 on Wednesday.

As of Tuesday, the S&P U.S. Listed China 50 index stood at 2,697.25, marking a 10.56-percent decrease for the month-to-date returns and a 17.72-percent gain for the year-to-date returns. 

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