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U.S.-listed Chinese firms trade mostly lower

Xinhua News,NEW YORK
2020-08-28 05:06

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NEW YORK, Aug. 27 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Thursday, with eight of 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 Alibaba Group Holding and ZTO Express slid 2.67 percent and 1.68 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of New Oriental Education & Technology Group and Trip.com Group advanced 5.98 percent and 1.5 percent, respectively, the only two gainers in the top 10 stocks.

Wall Street's major averages closed mixed on Thursday as investors pored through the U.S. Federal Reserve's new policy strategy on inflation and a slew of newly-released key economic data.

The Dow Jones Industrial Average rose 160.35 points, or 0.57 percent, to 28,492.27. The S&P 500 increased 5.82 points, or 0.17 percent, to 3,484.55. The Nasdaq Composite Index fell 39.72 points, or 0.34 percent, to 11,625.34.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, jumped 5.16 percent to 24.47.

As of Wednesday, 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 4,492.10, marking a 6.68-percent increase for the month-to-date returns and a 41.83-percent gain for the year-to-date returns.
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