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U.S.-listed Chinese firms trade mostly lower

Xinhua News,NEW YORK
2020-09-01 05:09

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NEW YORK, Aug. 31 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Monday, 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 TAL Education Group and Baidu sank 4.06 percent and 3.43 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of ZTO Express and Yum China Holdings rose 2.48 percent and 2.14 percent, respectively, the only two gainers in the top 10 stocks.

U.S. stocks finished mixed on Monday as Wall Street wrapped up its best August in more than 30 years.

The Dow Jones Industrial Average slid 223.82 points, or 0.78 percent, to 28,430.05. The S&P 500 was down 7.70 points, or 0.22 percent, to 3,500.31. The Nasdaq Composite Index rose 79.82 points, or 0.68 percent, to 11,775.46.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked 15.03 percent to 26.41.

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 4,478.49, marking a 6.35-percent increase for the month-to-date returns and a 41.4-percent gain for the year-to-date returns.
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