U.S.-listed Chinese firms trade mostly lower

Source: Xinhua| 2020-11-24 06:25:50|Editor: huaxia

NEW YORK, Nov. 23 (Xinhua) -- U.S.-listed Chinese companies traded mostly lower on Monday, with eight 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 Baidu and New Oriental Education & Technology Group slid 2.26 percent and 2.07 percent, respectively, leading the laggards in the top 10 stocks in the index.

Shares of NIO and NetEase advanced 12.45 percent and 1.37 percent, respectively, the only two gainers in the top 10 stocks.

U.S. stocks ended higher on Monday, buoyed by a jump in energy sector.

The Dow Jones Industrial Average rose 327.79 points, or 1.12 percent, to 29,591.27. The S&P 500 increased 20.05 points, or 0.56 percent, to 3,577.59. The Nasdaq Composite Index was up 25.66 points, or 0.22 percent, to 11,880.63.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, dropped 4.39 percent to 22.66.

As of Friday, 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 4,961.52, marking a 12.28-percent increase for the month-to-date returns and a 56.65-percent gain for the year-to-date returns. Enditem