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U.S.-listed Chinese firms trade mostly higher

Xinhua News,NEW YORK
2020-08-05 05:25

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NEW YORK, Aug. 4 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Tuesday, with seven 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 Baidu and NetEase advanced 5.08 percent and 2.3 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of TAL Education Group and Pinduoduo slid 2.63 percent and 2.09 percent, respectively, the two worst performers in the top 10 stocks.

U.S. stocks finished higher on Tuesday, underpinned by solid gains in energy sector.

The Dow Jones Industrial Average rose 164.07 points, or 0.62 percent, to 26,828.47. The S&P 500 increased 11.90 points, or 0.36 percent, to 3,306.51. The Nasdaq Composite Index was up 38.37 points, or 0.35 percent, to 10,941.17.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 2.14 percent to 23.76.

As of Monday, 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 4,316.25, marking a 2.5-percent increase for the month-to-date returns and a 36.28-percent gain for the year-to-date returns.
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