U.S.-listed Chinese firms trade mostly higher as U.S. stocks rally

Source: Xinhua| 2018-03-21 05:23:40|Editor: Mu Xuequan
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NEW YORK, March 20 (Xinhua) - U.S.-listed Chinese companies traded mostly higher on Tuesday, with 8 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 TAL Education Group and shares of BeiGene, surged 5.80 percent and 5.23 percent respectively, leading the advancers in the top 10 stocks of the index, while shares of NetEase, fell 1.05 percent as the biggest laggards among the 10 stocks.

Shares of Alibaba and shares of Baidu, another two Chinese famous tech companies listed in the U.S. equity market, rose 2.27 percent and 0.64 percent respectively on Tuesday, while shares of China' s e-commerce giant JD.com fell 0.34 percent.

U.S. stocks ended higher on Tuesday as the Federal Reserve kicked off its two-day monetary policy meeting.

At the close, the Dow Jones Industrial Average added 116.36 points, or 0.47 percent, to 24,727.27. The S&P 500 increased 4.02 points, or 0.15 percent, to 2,716.94. The Nasdaq Composite Index was up 20.06 points, or 0.27 percent, to 7,364.30.

The CBOE Volatility index, widely considered the best fear gauge in the stock market, dropped 4.31 percent to 18.20 on Tuesday.

As of Monday, the S&P U.S. Listed China 50 index stood at 3,300.06, marking a 1.57-percent gain for the month-to-date returns and a 6.76-percent increase for the year-to-date returns.