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U.S.-listed Chinese firms trade higher

Xinhua News,NEW YORK
2020-03-25 05:01

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U.S.-listed Chinese companies traded roughly higher on Tuesday, with all 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 New Oriental Education & Technology Group soared 13.34 percent, outpacing the rest in the top 10 stocks in the index.

TAL Education Group and NetEase jumped 12.68 percent and 8.38 percent, respectively, also among the best performers.

U.S. stocks closed sharply higher on Tuesday with the Dow up more than 11 percent, notching its biggest one-day percentage gain since 1933 amid stimulus hopes.

The Dow Jones Industrial Average surged 2,112.98 points, or 11.37 percent, to 20,704.91. The S&P 500 increased 209.93 points, or 9.38 percent, to 2,447.33. The Nasdaq Composite Index advanced 557.18 points, or 8.12 percent, to 7,417.86.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, gained 0.13 percent to 61.67 on Tuesday.

As of Monday, the S&P U.S. Listed China 50 index stood at 2,794.18, marking an 11.43-percent decrease for the month-to-date returns and an 11.78-percent decline for the year-to-date returns.
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