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U.S.-listed Chinese firms trade mostly lower

NEW YORK
2019-06-06 07:35

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NEW YORK, June 5 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Wednesday with nine 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 Ctrip.com and TAL Education lost 3.27 percent and 3.18 percent respectively, the top two decliners in the top 10 stocks of the index.

Shares of Yum China rose 1.57 percent, the only gainer among the top 10.

U.S. stocks rallied for the second session on Wednesday as investors grew more confident that the central bank will lower its benchmark interest rates to facilitate economic expansion.

The Dow Jones Industrial Average was up 207.39 points, or 0.82 percent, to 25,539.57. The S&P 500 increased 22.88 points, or 0.82 percent, to 2,826.15.

The Nasdaq Composite Index was up 48.36 points, or 0.64 percent, to 7,575.48.

As of Tuesday, the S&P U.S. Listed China 50 index stood at 2,588.64, marking a 2.63-percent increase for the month-to-date returns and a 12.98-percent gain for the year-to-date returns.
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