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U.S.-listed Chinese firms trade mostly higher

Xinhua News,NEW YORK
2020-09-10 05:46

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NEW YORK, Sept. 9 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Wednesday, 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 NetEase rose 3.6 percent and 3.12 percent, respectively, leading the advancers in the top 10 stocks in the index.

Shares of Trip.com Group dipped 1.82 percent, the only decliner in the top 10 stocks.

U.S. stocks finished higher on Wednesday amid a market-wide rebound led by tech shares.

The Dow Jones Industrial Average jumped 439.58 points, or 1.60 percent, to 27,940.47. The S&P 500 rose 67.12 points, or 2.01 percent, to 3,398.96. The Nasdaq Composite Index increased 293.87 points, or 2.71 percent, to 11,141.56.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 8.42 percent to 28.81.

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 4,174.53, marking a 5.22-percent loss for the month-to-date returns and a 31.8-percent gain for the year-to-date returns.
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