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U.S.-listed Chinese firms trade lower

Xinhua News,NEW YORK
2020-06-12 04:59

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NEW YORK, June 11 (Xinhua) -- U.S.-listed Chinese companies traded roughly lower on Thursday, with all 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 JD.com and Trip.com Group fell 5.7 percent and 5.28 percent, respectively, leading the losses in the top 10 stocks in the index.

Shares of Baidu and TAL Education Group dropped 4.26 percent and 3.81 percent, respectively, also among the worst performers in the top 10 stocks.

U.S. equities plunged on Thursday as investors were worried about a second wave of virus infections across the country.

The Dow shed 1,861.82 points, or 6.90 percent, to close at 25,128.17. The S&P 500 sank 188.04 points, or 5.89 percent, to 3,002.10. The Nasdaq decreased 527.62 points, or 5.27 percent, to 9,492.73.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked nearly 48 percent to 40.79.

As of Wednesday, the S&P U.S. Listed China 50 index stood at 3,842.04, marking a 9.03-percent increase for the month-to-date returns and a 21.31-percent gain for the year-to-date returns.
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