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U.S.-listed Chinese firms trade higher

Xinhua News,NEW YORK
2020-05-09 09:55

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NEW YORK, May 8 (Xinhua) -- U.S.-listed Chinese companies traded roughly higher on Friday, with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

Shares of Pinduoduo surged 9.09 percent, leading the gains in the top 10 stocks in the index.

Shares of both and ZTO Express rose more than 4 percent, also among the best performers in the top 10 stocks.

U.S. stocks ended noticeably higher on Friday even after data showed a record 20.5 million jobs were lost in the world's largest economy last month.

The Dow Jones Industrial Average jumped 455.43 points, or 1.91 percent, to 24,331.32. The S&P 500 increased 48.61 points, or 1.69 percent, to 2,929.80. The Nasdaq Composite Index soared 141.66 points, or 1.58 percent, to 9,121.32.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, slipped 11.13 percent to 27.94.

As of Thursday, the S&P U.S. Listed China 50 index stood at 3,226.33, marking a 0.21-percent decrease for the month-to-date returns and a 1.87-percent gain for the year-to-date returns.
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