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U.S.-listed Chinese firms trade mostly higher

Xinhua News,NEW YORK
2020-07-28 04:55

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NEW YORK, July 27 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher 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 an upbeat note.

Shares of Pinduoduo and TAL Education Group surged 5.69 percent and 3.64 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of Baidu slid 2.66 percent, the only decliner in the top 10 stocks.

U.S. stocks advanced on Monday, bolstered by solid gains in major tech shares.

The Dow Jones Industrial Average climbed 114.88 points, or 0.43 percent, to 26,584.77. The S&P 500 rose 23.78 points, or 0.74 percent, to 3,239.41. The Nasdaq Composite Index jumped 173.09 points, or 1.67 percent, to 10,536.27.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 4.26 percent to 24.74.

As of Friday, the S&P U.S. Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on U.S. exchanges by total market cap, stood at 4,086.74, marking a 3.02-percent increase for the month-to-date returns and a 29.03-percent gain for the year-to-date returns.
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