U.S.-listed Chinese firms trade mostly lower

Source: Xinhua| 2020-08-20 06:00:46|Editor: huaxia

NEW YORK, Aug. 19 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Wednesday, with seven 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 TAL Education Group and New Oriental Education & Technology Group slid 4.55 percent and 3.28 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of Pinduoduo and JD.com rallied 4.75 percent and 3.19 percent, respectively, leading the advancers in the top 10 stocks.

U.S. stocks finished lower on Wednesday after the minutes from the Federal Reserve's July meeting showed concerns about economic outlook.

The Dow Jones Industrial Average decreased 85.19 points, or 0.31 percent, to 27,692.88. The S&P 500 fell 14.93 points, or 0.44 percent, to 3,374.85. The Nasdaq Composite Index was down 64.38 points, or 0.57 percent, to 11,146.46.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed 4.79 percent to 22.54.

As of Tuesday, 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 4,324.51, marking a 2.7-percent increase for the month-to-date returns and a 36.54-percent gain for the year-to-date returns. Enditem

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