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U.S.-listed Chinese firms trade higher

Xinhua News,NEW YORK
2020-08-13 05:34

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NEW YORK, Aug. 12 (Xinhua) -- U.S.-listed Chinese companies traded roughly higher on Wednesday, 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 NetEase and Pinduoduo surged 4.4 percent and 3.25 percent, respectively, leading the gains in the top 10 stocks in the index.

Shares of JD.com and Alibaba Group Holding climbed 2.81 percent and 2.73 percent, respectively, also among the best performers.

U.S. stocks ended higher on Wednesday as major tech shares recouped some of their losses from the prior session.

The Dow Jones Industrial Average increased 289.93 points, or 1.05 percent, to 27,976.84. The S&P 500 rose 46.66 points, or 1.40 percent, to 3,380.35. The Nasdaq Composite Index jumped 229.42 points, or 2.13 percent, to 11,012.24.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, slid 7.28 percent to 22.28.

As of Tuesday, 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 4,180.01, marking a 0.73-percent loss for the month-to-date returns and a 31.98-percent gain for the year-to-date returns.
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