Mon, 25 Jan 2021

U.S.-listed Chinese firms trade roughly flat

Xinhua
28 Nov 2020, 05:51 GMT+10

NEW YORK, Nov. 27 (Xinhua) -- U.S.-listed Chinese companies traded roughly flat on Friday, with five 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 Trip.com Group advanced 6 percent and 2.64 percent, respectively, leading the gainers in the top 10 stocks in the index.

Shares of TAL Education Group and Yum China Holdings slid 1 percent and 0.53 percent, respectively, leading the laggards in the top 10 stocks.

U.S. stocks rose on Friday with the tech-heavy Nasdaq notching a fresh record.

The Dow Jones Industrial Average increased 37.90 points, or 0.13 percent, to end at 29,910.37. The S&P 500 was up 8.7 points, or 0.24 percent, to 3,638.35. The Nasdaq Composite Index jumped 111.44 points, or 0.92 percent, to 12,205.85.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, slipped 1.93 percent to 20.84.

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 4,987.51, marking a 12.87-percent increase for the month-to-date returns and a 57.47-percent gain for the year-to-date returns.

Sign up for Osaka News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!