U.S.-listed Chinese firms trade mostly lower

Source: Xinhua| 2018-06-14 06:19:07|Editor: huaxia
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NEW YORK, June 13 (Xinhua) -- U.S.-listed Chinese companies traded mostly higher on Wednesday, with 8 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 BeiGene and shares of TAL Education Group, tumbled 11.29 percent and 9.95 percent respectively, leading the laggards in the top 10 stocks of the index, while shares of Baidu rose 0.96 percent as the biggest advancer among the 10 stocks.

At Wednesday's close, shares of Alibaba, another Chinese famous e-commerce giant listed in the U.S. equity market, fell 1.18 percent to 206.62 U.S. dollars apiece.

U.S. stocks closed lower on Wednesday after the Federal Reserve hiked interest rates for 25 basis points as widely expected after its June meeting.

At the close, the Dow Jones Industrial Average was down 119.53 points, or 0.47 percent, to 25,201.20. The S&P 500 fell 11.22 points, or 0.40 percent, to 2,775.63. The Nasdaq Composite Index lost 8.09 points, or 0.11 percent, to 7,695.70.

The Cboe Volatility index, widely considered the best fear gauge in the stock market, jumped 4.86 percent to 12.94 on Wednesday.

As of Tuesday, the S&P U.S. Listed China 50 index stood at 3,428.72, marking a 7.33-percent gain for the month-to-date returns and a 10.93-percent increase for the year-to-date returns. Enditem