U.S.-listed Chinese firms trade mostly lower

Source: Xinhua| 2019-03-23 07:17:26|Editor: Yamei
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NEW YORK, March 22 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Friday with nine 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 58.com and Ctrip.com International slid 4.22 percent and 3.66 percent, respectively, leading the laggards in the top 10 stocks of the index.

Both shares of NetEase and ZTO Express declined more than 3 percent, also among the worst performers in the top 10 stocks of the index.

Stock of Yum China Holdings rose about 0.5 percent at the close, the only gainer in the top 10 stocks of the index.

U.S. stocks fell sharply on Friday as downbeat economic data from major European countries and the Federal Reserve's cautious outlook on the U.S. economy reignited fears of global economic slowdown.

The Dow Jones Industrial Average plunged 460.19 points, or 1.77 percent, to 25,502.32. The S&P 500 decreased 54.17 points, or 1.90 percent, to 2,800.71. The Nasdaq Composite Index dropped 196.29 points, or 2.50 percent, to 7,642.67.

The Cboe Volatility index, widely considered the best fear gauge in the stock market, increased 20.91 percent to 16.48 on Friday.

As of Thursday, the S&P U.S. Listed China 50 index stood at 2,802.23, marking a 2.47-percent increase for the month-to-date returns and a 22.30-percent gain for the year-to-date returns.

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