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U.S.-listed Chinese firms trade mostly lower

NEW YORK
2019-07-09 05:02

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NEW YORK, July 8 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Monday 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 New Oriental Education & Technology Group and 58.com declined 5.10 percent and 4.60 percent respectively, leading the losers in the top 10 stocks of the index.

Shares of ZTO Express rose 0.35 percent, the only gainer in the top 10 stocks of the index. U.S. stocks ended lower on Monday, as the three major indexes were weighed down by losses in several blue-chip stocks, and the latest robust jobs report tempered expectations for potential rate cuts by the U.S. Federal Reserve.

The Dow Jones Industrial Average fell 115.98 points, or 0.43 percent, to 26,806.14. The S&P 500 decreased 14.46 points, or 0.48 percent, to 2,975.95. The Nasdaq Composite Index declined 63.41 points, or 0.78 percent, to 8,098.38.

The Cboe Volatility index, widely considered the best fear gauge in the stock market, increased 5.12 percent to 13.96 on Monday.

As of Friday, the S&P U.S. Listed China 50 index stood at 2,804.77, marking a 1.11-percent increase for the month-to-date returns and a 22.41-percent gain for the year-to-date returns.
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